Market quiet ahead of Trump inauguration
But STI rebounds from three days of losses, with contributions from banks, Singtel and Jardine stable
A QUIET session on Thursday ended with the Straits Times Index (STI) rebounding from three days of losses, rising eight points to 3,008.22. The broad market recorded 224 rises versus 194 falls amid turnover of 1.9 billion units worth S$963 million.
Investors were said to be waiting for the inauguration of Donald Trump as the next US president to be completed on Friday and to see what his economic initiatives might be before making any moves. As his first working day is on Monday, expectations are that markets will remain range-bound for the time being.
All three local banks rose, while gains in Singtel and the Jardine group also contributed towards the STI's positive showing. The Dow futures, however, traded marginally in the red.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly
HCA beats first-quarter profit estimates on higher patient admissions