The Straits Times Index (STI) has recently hit a two-year high, drawing significant attention from investors. While this surge might seem promising, a closer look at the STI's historical performance and current composition suggests that investors should exercise caution. This article delves into the STI's performance over the past decade, the dominance of local banks in the index, and the potential risks associated with investing at this juncture.$Straits Times Index(STI.SI)$ $STI ETF(ES3.SI)$ The Straits Times Index: A Decade in Review The Straits Times Index, Singapore’s primary stock market benchmark, comprises 30 of the lar