Dear readers, yesterday, the Singapore stocks markets benchmark Straits Times Index finally became oversold as the Wuhan coronavirus episode continued to drag global stocks markets. The Straits Times Index ETF which tracks the Straits Times Index also became oversold. Is this a good opportunity to load up some Singapore stocks now selling at a discount?
While the Straits Times Index has indeed gone down, at the current level of 3,153; I still find that the index is still not low enough to be attractive. With the still ongoing development of the Wuhan coronavirus episode and some geo-political factors coming to the fore every now and there (like the US-China trade tensions), I believe the Straits Times Index would continue to trend south. Unless there are positive catalysts, Singapore stocks will at most consolidate at approximately the current level.
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