Last week STI hit 3355 which was year to date peak. Following sell down on US on Thursday, STI retreated on last Friday. It formed triple top break up on mid July. Shall the index continue to fall, 3271 would serve as support. Janet Yellen hinted potential cut of balance sheet on coming September meeting. Market liquidity is deemed to be shrinking ahead, so investor is advised to take profit from existing portfolio on current bull run.
Market Calendar on coming week:
In the US, the most important events will be nonfarm payrolls, balance of trade and ISM PMIs. Elsewhere, the BoE will announce its interest rate decision and the Eurozone will release GDP growth
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan).
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