Note:
All 3 local banks share prices surge up today....
Remarks:
Today, mainly from the 3 big banks, which contributed 20 over points of increase in STI, showing the fund mangers still prefer the banking sector as safe haven in Singapore market, after all the economic data like Non-oil domestic exports (NODX), Manufacturing PMI, Industrial Production... still look pretty flat and gloomy.
In actual fact, SG market had seemed to lost direction even though STI had broke up from resistance of 3340 today. Nonetheless, the funds doesn't concentrated into 3 big banks for no reason, there are few factors that investors must know about the possible threats are posing to the existing geographical advantage of Singapore.
I will discuss more in my next post on my First Half 2024 Review.
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