STI extends rally on Wall St surge
Dow's new record highs, Chinese central bank's stimulus injection draw buyers back into Singapore market
AS ATTENTION pivots away from concerns over the spread of the novel coronavirus, risk-friendly activity in the region's equity markets continued to pick up on Thursday.
Even though fatality and infection cases from the virus are still rising - more than 560 deaths and over 28,000 diagnosed, most Asia-Pacific indices recorded strong early gains.
One reason is that Wall Street is soldiering on to new record highs on strong US corporate earnings and economic data; another is that the Chinese central bank's stimulus injection has calmed fears of a sharp slowdown in its economy, and also that there was a cure for the virus being developed (though it was later played down by the World Health Organization).
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Yahoo to lay off staff in Singapore as it shifts to content curation
US: Wall St opens higher on megacap strength, Fed verdict awaited
IReit Global occupancy rate grows to 91.5% in Q1
Yen surges against US dollar on suspected intervention