Straits Times Index
Stock Market Updates
Don’t Bet Against A “Perfect 10” – Take Profit Towards STI 3340 To 3355
- Our earlier view for a July rebound did pan out.
- Short-term traders should sell-into-strength towards STI 3340-3355 as we think the STI will head lower in August.
- Did you know that the Singapore market ended lower in the month of August compared to July without fail over the past 10 years? The STI has suffered a median decline of 2.1% and average decline of 4.2%.
~ SGinvestors.io ~ Where SG investors share
- Trend for a ‘negative August’ should continue this year giving lingering US-China trade war concerns – Latest news: Even as the US and China seek to restart talks to defuse a trade war, the Trump administration is considering a higher 25% (from 10%) tariff on US$200 billion of Chinese imports.
- STI’s near-term upside is capped at 3355; we do not rule out a test of 3220 in August.
- We think the 10-year curse can only be broken if there is headline news that reads ‘War is finally over!’
Yeo Kee Yan CMT
DBS Group Research Research
|
Singapore Research
DBS Research
|
https://www.dbsvickers.com/
2018-08-01
