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StockTalk (5.15): Will Singapore Local Stock Market Bottom Out in the Near Future?
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StockTalk (5.15): Will Singapore Local Stock Market Bottom Out in the Near Future?
The Straits Times Index of Singapore closed at 3208.55 points last Friday (May 12), falling 58.08 points or 1.8% throughout the week. Today, the Straits Times Index fell 4.19 points or 0.13%, reporting 3204.36 points.
According to some analysts, the US banking crisis has not yet been fully resolved, causing local banking stocks to be short-term oversold. This may lead to the local stock market falling below the 3,200-point support level in the near future, but the market is expected to bottom out within the next half month, providing investors with potential opportunities to buy local blue-chip stocks at lower prices.
Despite the fall of the Straits Times Index (STI) to the level at the end of March, certain constituent stocks such as Keppel Corp, Jardine C&C, Sembcorp Industries, Capitaland Invest, and Singtel have shown significant growth over the past seven weeks, with an average total return of 13.8%. Although local banking stocks have delivered good results in this earnings season, with double-digit year-on-year growth in net profit in Q1 2021, their stock prices fell last week. DBS Group (DBS) and Oversea-Chinese Banking Corporation (OCBC), both of which went ex-dividend last week, fell 3.9% and 3.2% respectively to 30.66 and 12.25 SGD, while United Overseas Bank (UOB) fell 0.8% to 27.77 SGD.
What are your thoughts on the matter? Is this a good opportunity for investors to purchase local blue chips during dips? Do you believe that Singapore's local stock market will bottom out in the near future? Share your experiences and opinions by participating in the poll below.
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jkak : those who has exposure to emerging market like indo and india will be bloom in future. The rest will be flattern and some will never recover
ZnWC : Most Singapore stocks underperform is due to macro reasons like FED rate hike and recession fear. Currently market is very sensitive to negative news; can negate all positive news announced.
If the company fundamental is strong, there's nothing to worry about. Just take a long position and earn dividend. But if you're swing trader, it takes more than TA chart to tell you when to enter and exit a trade.
I won't short sell or invest by leverage no matter how good the return is. Singapore stock market can be a bit slow to recover, be patient and ignore the noise.
GodSpeed289 : Singapore’s economic fundamentals remain sound, with unemployment rate remaining low. Given increasing economic uncertainties, flight to safety for global capital is expected to continue, and this could benefit ‘safe havens’ such as Singapore stock market. However, expect challenges from inflation, interest rates, and possible recession. Hopefully, inflationary pressures will ease by the Fed.
TLim77 : Looking to add more local banks' shares and REITs if STI dips further.