Weekly Singapore Stocks Market Review
Last week, in Singapore the hit of the week was the Government unveiled a set of unprecedented stamp duty to curb the rising property sector. This is the fifth cooling measure since September, 2009. This is a much stricter measure. It impacts both local and foreigner buyers.
All the analysts agree on the property sales will be impacted and likely to fall. But how serious the fall could be? There is already likely an oversupply of the private homes for the next few years. Besides that there is a slowdown in admitting immigrants begin a few years back.
All these will add on to the new supply and demand equation. Many blame this resulting to the bearish week. Can this a knee-jerk reaction in stocks price for the property developers and its supply chain on last trading going to stay? Will see.
Singapore Stocks Market Benchmark, Straits Times Index Weekly Review
The market has becoming more and more volatile. Straits Times stocks market benchmark index, Straits Times Index, STI after two weeks tug-of-war between bull and bear. The bull was winning on the first week; finally the bear pushed the bull down to near the first week opening level. It left a long shadow. In a two weeks time frame, the candlestick pattern will look like Gravestone Doji too. The index now is at the critical support level. Can the index get supported or break below the level? The last review, we said in order for the index to move higher it will first move lower to gather more energy. Is this the case? Let’s monitor and watch next few weeks.
Straits Times Index, STI and Dow Jones Index, DJI Weekly Chart
Straits Times Index, STI and Dow Jones Index, DJI Weekly Chart
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Next Week What Straits Times Index Daily Chart Tells You? Up, Down, or Sideways?
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