@bennysam. You are absolutely right. It is more than window dressing. Most of the up counters should be the debt-bearing ones, such as REITs and property stocks because the market was expecting the interest rate hike in the last few months. Now with the Brexit, there is less propensity for the FED to increase the interest rate. Some even think that it may go into 2018. Hence, the spectre of the interest rate hike that has been haunting the market should go away. But again, there will definitely news related the Britain and EU that can affect the market in months to come.
@bennysam. Personally I hope it is not window dressing either. Just don't want to get too euphoric. @zenon1698. Good to know that $cityDev. Don't have this stock, unfortunately.
Reply to @BrennenPak : Logically speaking, STI higher now than before Brexit less than a week ago? Doesn't make sense to me but this is how the market goes :-)
@bennysam. You are absolutely right. It is more than window dressing. Most of the up counters should be the debt-bearing ones, such as REITs and property stocks because the market was expecting the interest rate hike in the last few months. Now with the Brexit, there is less propensity for the FED to increase the interest rate. Some even think that it may go into 2018. Hence, the spectre of the interest rate hike that has been haunting the market should go away. But again, there will definitely news related the Britain and EU that can affect the market in months to come.
@bennysam. Personally I hope it is not window dressing either. Just don't want to get too euphoric. @zenon1698. Good to know that $cityDev. Don't have this stock, unfortunately.
Reply to @BrennenPak : Logically speaking, STI higher now than before Brexit less than a week ago? Doesn't make sense to me but this is how the market goes :-)
Looking at the blue chips advance, I have little doubt window dressing is in play :-)