STI slips, but bull can still ride on economy, earnings
CAN the record-breaking stock market keep up its rallies, or is it time for investors to rein in the exuberance before losing their pants?
Market experts say the benchmark Straits Times Index (STI) has enjoyed a nice bull run since the start of 2018, and appears a tad exhausted. However, most do not expect any potential pullback to be more than 3 per cent, given the positive earnings report cards by blue chip companies so far and the overall economic health of Singapore and the rest of the world.
"The global economy is undergoing a phase of rare, broad, and synchronised growth, with indications that growth could indeed strengthen further in the first-half of this year," DBS economists say. They noted that the US is on track to report a third consecutive quarter of 3 per cent real gross domestic product growth and China continues to display surprising resiliency, despite some measures aimed at slowing activities.…
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