The SMI is down by 0.84% to 10,169.41, and FTSE Singapore is down by 0.00% to 340.97, while STI is down by 1.1% to 3,227.80 on Tuesday
On Tuesday Dufry rose more than 4% and Outperformed SMI. Dufry comments that their pent-up tourism demand has increased around the world.
The Singapore stock market has replaced between positive and negative finishes over the past five trading days since the end of the two trading sessions in which it had tumbled almost 25 pts or 0.8 percent, the straits times index now reset just above 3,260 points although it figures to south head again on Friday.
The European and US markets were down and the Asian Market follow that lead, according to global forecasters Asian market is negative about recession fears and concerned over the result of interest rate
For the day, the index rose 0.04% to end up at 3,263.07 after trading between 3,243.46 and 3,266.64 and the volume is around 1 billion shares worth 1.09 billion Singapore dollars. there were almost 230 gainers and 257 decliners.
On Wednesday Asia- The pacific market was down as investors expect the Federal Reserve to give a summary of economic conditions, this is also known as Beige Book.
LONG TERM TECHNICAL ANALYSIS
This daily chart indicates that SMI is trading in a down channel, Currently, it is trading below all SMA, RSI suggests that the market is in the selling zone, and MACD is below zero which indicates bearishness.