Isn't now the best time to load up STI when it is unloved?

I do agree with you and believe STI is unloved.

Recent years of underperformance vs US equity is a reason why many have given up on it.

In the 2000s, STI and also all emerging market was the hot sauce. US equity was deemed to be sluggish. That is why this sharing below. Hope it helps...

STI ETF INDEX OR US S&P 500? WHICH SHOULD YOU INVEST NOW? https://youtu.be/lE0AK7N0NdQ

True contrarians have very good fundamental grounds for their views. They do not simply bet against the market just for the sake of it. In business, winners tend to continue winning. Losers tend to continue losing. Taking a contrary view without some level of insight is like betting on a blackjack table continuously just because the dealer has won 20 hands in a row. If you are playing in a poker game and after 30 minutes you can't find the sucker, you're the sucker.

Always invert. Even when you are taking a contrarian stance.

Follow me here.

If we look at what's inside our STI constituents, we have a lot of cyclical companies. There are two groups of investors, one is to invest when companies are unloved and two is to invest in great companies. I've always realised investing in the later strategy turned out to be more profitable.

One is based on hope and one has more certainty.

My own contrarian view - a contrarian view wouln't have served you well if you are a Japanese investor looking at Japan investments in the early 1990s.​​​