Singapore shares drift, medical stocks in play
US-China tensions continue to weigh on sentiment, with the VIX fear gauge jumping to its highest in six weeks.
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SINGAPORE shares continued to drift on Tuesday even as the Nasdaq defied gravity. Geopolitical tensions between the US and China, however, continue to weigh on sentiment.
Margaret Yang, DailyFX strategist, said that while the overall trend for the Nasdaq remains bullish, the fear gauge or VIX has spiked above 30 - its highest level seen in one and a half months.
"This suggests that the five-month long stock market rally may have run out of steam and is due for a technical pullback," she warned.
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