UK, US political risks pressure stocks

THE local stock market kicked off the week on a soft note, chalking up 169 rises versus 297 falls, excluding warrants. Political uncertainty in the UK and this week's US Federal Open Market Committee meeting were among the concerns, as was a shaky Wall Street, which is nervously watching events unfold in Washington surrounding Russian involvement in last year's presidential election.

The Straits Times Index also weakened, though thanks to support for Jardine Matheson, Jardine Strategic and Cycle & Carriage, its loss was limited to just 5.85 points at 3,248.34 compared to the 1.24 per cent fall suffered by the Hang Seng I…