Wuhan Virus Outbreak is Worsening, How is the Singapore Overall Market Behaving?

With the recent Wuhan virus outbreak getting more serious, STI has been battered down, falling 3.2% within the past 1 week (So far STI is already down 1.5% for the year). But how is the overall market behaving? Based on system's MATA analysis that tracks the percentage of uptrending (rising) stocks, so far the overall market is only somewhat affected by the outbreak, not as serious as I thought. MATA indicator is currently at 37% falling 2% from a weak ago. The system still maintains a NEUTRAL outlook for Singapore.

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This is because Singapore market is nearing the oversold region as it is already quite beaten down due to the ongoing trade war between US and China. Even if the outbreak continues to worsen, the market's fall will be muted. Of course, my hope is that the outbreak can be contained and Singapore market can resume its uptrend that started last year September.

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