Friday, 14 May 2004

Singapore stocks continue to fall

The job market in Singapore seems to be making a definite turn for the better (Companies upbeat on wages, Demand for finance execs strongest since 1996) along with the economy (March chip equipment sales surge to US$3.9b).

Equity investors, however, appear to continue to focus on the impending US interest rate increase, China's overheating and record oil prices, with the Straits Times Index falling another 23.63 points today to close at 1,754.96, the fourth down day in five this week.

I expect the Singapore market to continue on this downward trend for a while more.

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