Wednesday, March 30, 2016

Singapore Market Updates 30 March 2016



STI up strongly today by 1.91% close 54 point higher at 2873, this is following the positive us market. The bullish sentiment in singapore is cause by mainly 2 reason, Firstly, the Yellen Speech last night indicate that Fed will have a slow approach on Rate hike policy,Secondly Regional market is mostly up today with HangSeng up 2.15% and Shanghai composite index up 2.77%.

Federal Reserve keep interest rate unchanged, market react positive?
Market already expect rate remain unchanged in march, before fed meeting, most market already moved hence the decision of Fed meeting does not have much impact on the market, however the news that Fed's rate 2 rate hike this year(instead of 4 hike) was really a pleasant surprise to investors. As bluechip stock is now on the high side, the good news did not push the market into a new high, I think market is pretty cautious right now as dow jones is near its 18000 resistance

One of the sector I am looking at is the commodities, we have seen that the gold has been one of the biggest winner in since beginning of 2016, for the past 5 week, it have been falling and yesterday after yellen's speach the price start to move higher. Hence i think the gold etf is one of the  asset to diversify your portfolio. More over, on the Gold chart,  it shows a golden cross. Seems like it is a sign that gold could be going on a bull run... again.

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