Shifting stock market narrative during US polls points to positive underlying investment tone
Post-poll Fed loosening may ignite liquidity wave that lifts stocks like DBS, OCBC, UOB, Ascendas Reit, CICT
THROUGH the heart-stopping twists and turns of the US elections this past week - including Donald Trump's appalling interference with the vote counting - stock prices have been remarkably firm.
The S&P 500 index closed higher on four out of the five trading days, chalking up a total gain of more than 7.3 per cent. In Singapore, the Straits Times Index charted a similar trajectory, ending the week nearly 6.4 per cent higher.
This persistent strength in the market seemed strange to me initially, and stranger still as the outcome of the elections unfolded.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Banks slip on Wednesday as STI falls 1.1%
Indian billionaire Birla said to mull US$1.2 billion in Novelis IPO
Apple’s China iPhone shipments soar 12% in March after discounts
Indian banks to step up IT spends as regulatory scrutiny rises
Puma returns to sales growth in Americas despite ‘volatile’ market
Shell to sell Singapore oil refinery, chemicals assets to Glencore joint venture