Singapore Stock Market Update For Thursday 01 December
Asian market join in a global rally as the central banks of the US, euro region, Canada, the UK, Japan and Switzerland agreed to cut the cost of providing dollar funding via swap arrangements, the Federal Reserve said, and agreed to make other currencies available as needed.
DJ had their best performance, soaring closing to 500 points, closing above 12,000.
For local market, STI managed to trade well above 2700, affirming that the break down of 2700 previously was a false alarm. We can expect market to trade above 2700 for now till year end but do bear in mind that market is still in downtrend for the long run. Any buying opportunity are short term and should be executed carefully and nimble.
Sentiment –> Bullish