Ballots are now opened nationwide in Greece for the crucial general re-election which will determine whether the debt-laden nation will undertake painful austerity reform or see its eurozone future jeopardised by rejecting the original package.
The past few weeks have seen the Singapore stock market stock turnover hovering around the daily billion dollar mark with most investors choosing to stay on the side line till the dust settles (me included). Dividend yield stocks such as telecom and REITs continue to hold well amidst the financial turbulent.
Bought additional Wilmar when it slided below S$4. At the same time, sold off OCBC and reinvest the proceeds into Macquire Infrastructure Fund where prices has dropped approximately 15% due to China authority revising the toll rates at Hua Nan Expressway.
Raised cash position to S$15K and wait for clearer signal whether market is almost bottom or STI will crash and drop below 2000. Taking into account market crashes on the STI....generally the highest point reached divided by 2.....STI may hit a bottom of 1600 if things do not turn out well in Europe.