SG stocks third-best weekly performer behind Indonesia, Vietnam: CGSI

The SIMSCI closed at 545.25, up 22.31% year-to-date in local-currency terms.

The MSCI Singapore Index (SIMSCI) rose 1.02% in the week ended 4 September, making Singapore the third-best performer amongst markets tracked by CGS International, behind Indonesia and Vietnam.

The index closed at 545.25 and has gained 22.31% year-to-date in local-currency terms, according to the brokerage’s Trading Lens report on 7 September.

In US-dollar terms, the index rose 1.62% during the week and 24.12% year-to-date.

CGSI described the index as being in a “bullish pennant” with its structural uptrend intact and set a technical target of 552.

It maintained Singapore as its preferred Asian market and assigned the index a momentum score of +2.

“The SIMSCI structure remains one of the clearest medium-term uptrends, and ASEAN is now showing improving relative strength at the same time that Japan and Korea are consolidating,” the report added.

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