Straits Times Index (STI)

"If you say vote against the government because somebody else will look after getting the PAP government and you just become a free rider, and you vote opposition, no harm, the PAP will still be there - then I think the system must fail." – PM Lee

The Straits Times Index (STI) closed August flat at 2,532.51 pts.

Gainers outnumbered the losers with ComfortDelGro leading the charge with a 7.0% gain week-on-week (w-o-w).

The Straits Times Index stayed within a narrow range during the week, ending at 2,539, up 11 points week-on-week but below the 50-day moving average at 2,596 and its 100-day moving average at 2,589. Both moving averages appear poised for a negative cross.

The Straits Times Index rallied as much as 2.1%, the most in more than two months, topping the 0.3% gain in the MSCI Asia Pacific Index.

While optimism builds in Singapore on declining numbers of Covid-19 infection, investors should stick with defensives. This is because the global Covid-19 situation remains “fluid”, with cases of resurgence in some countries, says RHB.

The benchmark Straits Times Index (STI) fell 1.4% to 2534.6 from 2571.55 last week.

After five weeks of being in the red zone, the benchmark Straits Times Index (STI) gained 1.4% to 2551.1 points from last week’s 2515.7 points on Tuesday (Aug 11).

DBS analysts expect a bottoming out to the STI to have occurred in 2Q2020 ended June

In a report dated July 30, Lim and Ng have maintained their target for the Straits Times Index (STI) at 2,495, still based on 12x CY21F P/E (or price-to-earnings ratio).