Singapore market shrugs off Maduro ouster as world awaits resolution of Venezuelan crisis
Oil prices muted amid robust supply; Central American exporter has been an insignificant player after years of US sanctions and blockades
Add BT as a preferred source
[SINGAPORE] Singapore equities were largely unscathed after the weekend’s US-backed regime change in Venezuela, as investors mostly shrugged off the geopolitical risk, analysts said.
Market watchers said that the muted market reaction in Singapore and the region underscored the city-state’s relative appeal as a safe haven, but they warned against expecting a rush of capital inflows into Singapore or the equity market.
“Because we don’t see much negative reaction in the US, I believe investors are brushing off the risk of the Venezuela action for the most part,” said Lorraine Tan, director of equity research on Asia at investment research firm Morningstar.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
