Asian stocks mixed amid uncertainties
Investors grapple with ongoing US-China trade rhetoric, geopolitical strains, direction of US economy
Add BT as a preferred sourceASIAN stocks traded mixed on Tuesday after early gains fizzled as investors grappled with the ongoing US-China trade rhetoric, and geopolitical strains. In fact, many are still trying to gauge the direction of the US economy, as the earnings season kicks in, market observers say.
On the local bourse, the benchmark Straits Times Index (STI) fell 0.4 per cent to close at 3,034.31. The field was roughly evenly matched, with advancers edging out losers just slightly at 185 to 179. About 1.8 billion shares worth S$950.6 million changed hands, versus a turnover of 1.67 billion shares worth S$1 billion on Monday.
CMC market analyst, Margaret Yang, said: "In Singapore, the STI has followed US into a technical correction last week, and this picture is unlikely to change until US market stabilises and earnings season feed investors with positive surprises. Before that, the STI is likely to consolidate within the narrow band of 3,000 to 3,100 points."
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