The STI opened on March 28 at 3,997.56 points. Prior to the midday break, the index was up 6.61 points, or 0.17%, at 3,988.18 points.
The STI closed 9.14 points lower, or 0.23% down, at 3,972.43 points on March 28.
The STI closed on March 27 at 3,981.57 points after breaking through the 3,990-mark for the first time earlier that day.
Among its 30 constituents, SGX market strategist Geoff Howie noted that ST Engineering and Sembcorp Industries (SGX:U96
) had been "leading the charge".
The industrials sector has booked the most net institutional inflow this month, according to Howie, bucking broader net outflows.
The STI had crossed the 3,900-mark on March 18.
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Daphne Tan, director of business development at CMC Markets Singapore, says: “The STI breaking 4,000 is a key psychological milestone, which could be interpreted as strong investor confidence, resilient blue-chip performance, and a favourable economic climate. Strong contributors in the STI include the banking and telecommunications sector. Breaking this level suggests a strengthening sentiment, but sustaining it would depend on global stability and market fundamentals.”
The STI was started in 1966.
It delivered a total return of 40% over the last 3 years (CAGR of 11.9%), even surpassing the S&P 500 Index, which gained 31%, or a CAGR 9.4%.
Furthermore, two Exchange Traded Funds (ETFs) have been launched since 2002, allowing investor access in tracking the performance of the index, with a combined record of S$2.5 billion in assets under management (AUM).
Table: Bloomberg
