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THINKING ALOUD

Dow at 50,000, STI at 5,000, Singtel at S$5 – what’s next?

Bullish investors beware: record highs and the breaching of psychological barriers tend to lead to an underpricing of risk

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    • Are the market gains seen in February built on durable fundamentals or, to borrow a famous phrase from former US Federal Reserve chairman Alan Greenspan, on “irrational exuberance"?
    • Are the market gains seen in February built on durable fundamentals or, to borrow a famous phrase from former US Federal Reserve chairman Alan Greenspan, on “irrational exuberance"? PHOTO: PIXABAY

    R Sivanithy

    Published Tue, Mar 3, 2026 · 06:45 AM

    CHART watchers would have noticed a curious convergence involving the number “5” a few weeks back, with the Dow Jones Industrial Average and the Straits Times Index (STI) closing above 50,000 and 5,000 around the same time, respectively.

    The STI’s rise coincided with Singtel’s rise above S$5. Meanwhile, Singapore’s 2025 growth has just been revised to 5 per cent.

    One might ponder whether a similar convergence involving the number “6” will occur – if ever.

    Thinking AloudDow JonesStraits Times IndexSingtelSGXFinancial marketsStocks

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