Fed’s rate cut brings ‘relief’ to Asian markets with STI hitting 17-year high, but long-term uncertainty under Trump remains

THE latest rate cut by the US Federal Reserve is expected to bring “some relief” to Asian and Singapore equity markets, with upsides for the property and consumer sectors.

However, the longer-term outlook for markets in view of a Donald Trump presidency remains uncertain, said analysts on Friday (Nov 8).

The benchmark Straits Times Index climbed 1.4 per cent to end at 3,724.37. The last time it had closed at this level was in October 2007, just before it hit an all-time high of 3,906.16 that same month.