Investor appetite stays muted for Christmas

MARKETS in Singapore and across most of Asia look set for quieter trading this week as worries continue to mute investors' appetites for eating, drinking and merrymaking.

Concerns of slowing economic growth and a government shutdown sent Wall Street stocks spiralling down last Friday. Furthermore, President Donald Trump has warned the government shutdown could be lengthy while he continues negotiating with Congress for funds to build his border fence.

White House trade adviser Peter Navarro had also said the US and China might not reach a trade deal at the close of a 90-day negotiating window unless Beijing can agree to a profound overhaul of its economic policies, accelerating declines in US stock indexes. The Nasdaq confirmed it is in a bear market, with technology and communication services stocks taking most of the hit from the sell-off.