Above is an end-of-day chart of the STI. There has been a significant change in trend in the STI. Today, it managed to close above the 50-day moving average, so the medium term trend has shifted rapidly from a down trend to an uptrend. 2700 also looks to be significant support for now. I think it is a good time to look into entering the market. Oil and gas counters like semb marine, keppel corp and ausgroup are seeing significant upticks in price and volume. Property counters, especially with strong presence in China, like Yanlord, YingLi, Capitaland are also seeing strong volumes and price increases.
The tide appears to be turning now.
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