Singapore's Straits Times Index $STI.SI(STI.SI)$ performed well in the past week, continuing its year-to-date gains.
The STI rose 1.5% last week to close at 3,796 points. During the week, the STI also broke through the 3,800-point mark at one point, reaching 3,843 points.
Ms. Li Ximeng, Deputy Director of the Singapore Exchange, said in an interview with Yicai Global on Monday:
This is a new high since October 2007. As of Friday's close, the STI was 2.9% away from its all-time high in 2007.
In terms of sectors, the engineering and industrial sectors in the STI performed well, and the banking sector also continued to gain.
Looking back at the second half of 2024, as of the end of November, the STI's total return reached 15.4%, making it one of the better performing indices in the region and even the world.
In contrast, the total returns of the FTSE World Index and the Asia Pacific Index were only 7.0% and 2.2% respectively.
Next, everyone will focus on the Federal Reserve meeting next week.
The lockdown period has already started on Saturday, and now the market's forecast for a rate cut in December has remained at around 70%.
So now the market is focusing on the November Consumer Price Index CPI, which will be released on Wednesday in the United States.
Bloomberg predicts year-on-year growth of 2.7%, exceeding October's 2.6% increase.
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