Market quiet ahead of Trump inauguration

A QUIET session on Thursday ended with the Straits Times Index (STI) rebounding from three days of losses, rising eight points to 3,008.22. The broad market recorded 224 rises versus 194 falls amid turnover of 1.9 billion units worth S$963 million.

Investors were said to be waiting for the inauguration of Donald Trump as the next US president to be completed on Friday and to see what his economic initiatives might be before making any moves. As his first working day is on Monday, expectations are that markets will remain range-bound for the time being.

All three local banks rose, while gains in Singtel and the Jardine group also contributed towards the STI's positive showing. The Dow futures, however, traded marginally in the red.