Singapore market shrugs off Maduro ouster as world awaits resolution of Venezuelan crisis

[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.