Although US reported further drop in crude oil inventory last week, crude oil plunged instead. Temporary retreat of oil price could pull down risk appetite towards offshore counters. Value hunting period could be presented instead, considering most panic over oil glut is over.
Singapore:
STI went silent again last week. It moved up from downward channel, but less strength to break up decisively. Upcoming weeks welcome more financial results among listed companies. Companies earning update would be concerned by market. Interest rate decision from Bank of England next week could stir market sentiments as well.
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA)
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