STI - 10 Consecutive Days of Falling

SELL in May and go away?

• The Straits Times Index (STI) closed lower for the past 10 trading days consecutively. 
• The index has retreated 8% since the recent peak of 2960.78 hit 10 trading days ago (21-Apr-2016) and closed at 2730.80 yesterday (06-May-2016).
• Among the STI component stocks,
  • OVERSEA-CHINESE BANKING CORP (O39.SI) & UNITED OVERSEAS BANK LTD (U11.SI) closed lower for all the 10 days, while 
  • SINGAPORE EXCHANGE LIMITED (S68.SI), CITY DEVELOPMENTS LIMITED (C09.SI) & JARDINE CYCLE & CARRIAGE LTD (C07.SI) closed lower in 9 out of the 10 days. 
  • Share price of JARDINE CYCLE & CARRIAGE LTD (C07.SI) tumbled more than 20%.

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