Tuesday, 27 August 2013

MARKET OUTLOOK 27 AUGUST 2013

Global financial markets remain weak due to flight to safety. South-East Asia currency weakening against US DOLLARS. In Singapore, the Straits Times Index have crash from 3250 to 3030, dropping 220 points. On 6th August 2013, we have set a cautious tone in our market outlook due to FED SEPTEMBER QE tapering. We do note that the STI have broken the support at 3065 support level causing excessive selling pressure down to 3030. Stay defensive, do not chase and be cautious at all times.


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