STI trend looked weak since early August. On last trading day, it briefly touched support ~ 3191. Since US market is still riding on its bullish path, STI shall hold well above support for the moment. Shall it breaks down from support, next support shall be ~ 3114. Investors could look into STI ETF (listed on SGX) for potential rebound by year end.
Market Calendar on coming week:
Next week the most important events will be Fed and Bank of Japan monetary policy decisions. Other key data to be published include US flash PMIs, housing statistics, existing home sales and current account; UK retail trade and CBI factory orders; the Eurozone flash PMIs, consumer sentiment and inflation; and China house prices.
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan).
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