Straits Times Index slowly gaining traction
MENTION the Straits Times Index to investors and they may respond with a gloomy look on their face. Why are we so pessimistic about our local index? The gloomy perception may be justified when you compare the STI to its peers in the US - the DJIA, SPX 500 and NASDAQ 100. These indices has been on a bullish run since the 2008-2009 global financial crisis. Even our immediate neighbour, the Kuala Lumpur Composite Index saw new highs after the financial crisis. The Singapore index still ranges below the 2007 high point of 3,900 points.
Is STI doomed without breaking through the highest point?
Many are still pessimistic about the STI's future despite the growth seen in external markets like the US. However, we believe the STI is slowly gaining traction based on a handful of technical analysis factors.
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