STI rises amid weaker broad market
Post-Trump, "risk-on'' rally may be losing momentum, say traders
THE Straits Times Index drifted for most of Tuesday's session, tracking movements in the Dow futures and Hong Kong before ending at 2,879.14 for a gain of 4.49 points on the day. More importantly, however, was that turnover slipped to 1.9 billion units worth S$1.03 billion compared to Monday's S$1.1 billion. Excluding warrants, there were 177 rises versus 225 falls.
Traders said there were signs that the post-Trump, "risk-on'' rally might be losing momentum, probably as markets come round to the realisation that Donald Trump's election promises - difficult though they may be to implement - would result in higher US interest rates and possibly lower international trade.
There was little direction to be derived from external sources - Hong Kong closed weaker, the Dow futures rose but only by a small amount and Europe, which closed in the red on Monday, opened mixed.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won