Time to add and hunt for more Singapore stocks (19Mar2022)
After taking painful batterings for the past few weeks since the outbreak in the Russia-Ukraine war, this week was a strong week for stock markets all over the world.
What I like about the momentum is how the market rallied despite bad news with the U.S raising interest rates, lockdowns in China and Hong Kong due to worsening Covid-19 conditions and the ongoing war in Europe. The turning point in China/HK came when Beijing voiced support for the markets. Unfortunately, I do not feel that China/HK stock markets have recovered enough to resume buying their stocks, given how badly they were beaten down. I will wait a little longer. On the other hand, the Singapore stock market has shown resilience during the downturn in recent weeks. As a momentum trader, I will add more Singapore stocks going forward.

Straits Times Index has again taken the crown as the leading Asian stock index performer of 2022 after losing to Indonesia Jakarta composite index for a period of time during the recent downturn.

China/HK stock indices appear among the worst stock indices year-to-date.

Broad market statistics for China/HK markets are still weak.
From the numbers, I will adopt a wait-and-see approach on the China/HK markets.
Another reason I am confident in the Singapore market is the resilience of my Singapore stock portfolio during the recent downdraft. Some of the palm-oil counters like Bumitama-Agri and Golden-Agri did fine. The biggest winner was RH Petrogas but it is no longer safe to chase this stock after the run-up.
This week, I added positions to the ex blue-chips like Sembcorp Marine, Keppel Corp, Jardine Cycle and Carriage.
If the momentum continues, I will be buying more Singapore stocks.
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