STI ended Februrary at 3895 points, up around 1% for the month. STI managed to hit a new all-time high level this month even as markets were worried about tariffs and hawkish US Fed comments. In Singapore, Budget 2025, company earnings reports and MAS Equities Market Review Group proposed measures were closely watched. Due to many concerns, volatility had also increased this month. I have attended the following physical AGMs/EGMs/briefing this month - Delfi and Wee Hur. For my top 30 holdings this month, investors were mostly reacting to company earnings reports. Main contributors include ..read more

STI ended the first month of the year at 3855 points, up around 1.8% for the month as US Fed paused interest rate cuts. Markets were worried about US Fed’s interest rate trajectory initially this month due to inflation data and employment numbers reported. Also, US President Donald Trump’s business policies had been closely watched. Towards the end of the month, the emergence of DeepSeek seems to affect confidence in some AI related stocks. For my top 30 holdings this month, some changes were observed as investors returned to the market. Main contributors include LHT, Multi-Chem and Singa ..read more

STI ended the year at 3787 points, up more 1% for the month and up around 17% for the year. The US Fed as expected cut rate in December but markets were surprised that they guided for lesser cuts next year. Investors sold down stocks in response to US Fed announcements but markets recovered some lost ground towards the end of the month. Volatility also increased this month. For my top 30 holdings this month, not much changes had been observed in what had been a quiet month. Main contributors include LHT and Sembcorp Industries while PM Data continued to remain weak. I have bought the following ..read more

STI ended November at around 3739 points, up around 5% as compared to last month. Lead by the banks, STI is now near all-time high level but the rest of the market had underperformed. Early in the month, investors were digesting the US election results and its impact on interest rate. But the post election rally fizzled out as the month progressed as concerns on trade tariffs emerged though the US market still did well for the month.  For my top 30 holdings this month, PM Data and Metro were weak after reporting a their 1H25 results. DBS and SGX did well as investors were positive that in ..read more

STI ended October at around 3558 points, down a bit as compared to last month. Early in the month, investors are concerned with escalating tensions in the Middle East, though some positive announcements on stimulus measures came out of China. Profit taking then set in after more details on China stimulus measures were absent. Volatility also increased towards the end of the month due to the looming US elections. I have attended the following physical AGMs/EGMs/briefing this month - GRP, Lion AsiaPac and Teho International. For my top 30 holdings this month, there is not much activities except ..read more

STI ended 3rd quarter of the year at around 3585 points, up around 4% as compared to last month. STI reached a 17 year high level this month as optimism came back into the markets on key export numbers and efforts to revive the local market. Also, investors cheered US Fed jumbo rate cut and China stimulus measures to revive the economy. For my top 30 holdings this month, Isetan was out of the list after the stock had been acquired via Scheme of Arrangement. Metro Holdings returned to the list as investors accumulated China related stocks. Other main contributors include Hong Fok, Sembcorp Indu ..read more

Dear all, After nearly one year, I guess it is time for another summary on my unit trust asset allocation. You can refer to my previous one at the link below: https://ghchua.blogspot.com/2023/09/my-unit-trust-asset-allocation.html For asset classes, I have done nothing much other than consistently adding onto the list of unit trusts that I had been holding for CPF Investments. I have again been defensive for the past one year or so, and therefore increased my allocation to short duration bond fund again. The other asset classes are obviously down correspondingly in terms of percentage of alloc ..read more

STI ended August at around 3442 points, down less than 0.5% as compared to last month. Markets corrected during early part of the month due to a combination of factors - fear of US economic recession, Japan's rate hike, unwinding of the carry-trade and tech stocks earnings disappointments. Volatility had also increased significantly during the early part of the month. However, markets seemed to have calmed down after that and recovered most of its lost ground with lower volatility as the month progresses. Expectations of Fed interest rate cut had increased significantly. I have attended the fo ..read more

STI ended July at 3455 points, up more than 3.5% as compared to last month. Led by the 3 banks and fund inflows, STI had one of the better performing month this year, though the markets had cooled down towards the end of the month due to tech stocks selloff. Focus by the markets this month had been on the upcoming US Presidential election, inflation data, timing of monetary policy easing and geopolitical conflicts. Volatility had also increased for the month, though it had tapered off a bit towards the end of the month. I have attended the following physical AGMs/EGMs/briefing this month -&nbs ..read more

STI ended mid-year at 3332 points, almost flat as compared to last month. Year to date, STI was up around 3%, but if one added back the dividends received, the YTD return numbers should come at around 6%. It had been another quiet month for the markets, with focus on AI related stocks and interest rate outlook. Volatility had also reduced as compared to last month. For my top 30 holdings this month, main contributors include iFAST, PM Data, Samudera Shipping, Multi-Chem and Frencken. Main laggards include Hotel Grand Central, Wing Tai and Yeo Hiap Seng. Meanwhile, OUE and Tat Seng returned to ..read more