Singapore market stuck in limbo

Uncertainty over rising US 10-year treasury bond yields and trade, geopolitical issues dampen sentiment

Angela Tan

Published Thu, May 17, 2018 · 09:50 PM

CAUGHT between Pyongyang and rising US 10-year treasury bond yields, the Singapore stock market appears going nowhere, for now.

The yield on the US 10-year treasury note touched 3.07 per cent on Tuesday, its highest since 2011, and a psychologically significant level that experts said could make equities appear less attractive.

In addition, there was some political uncertainty surrounding North Korea, after Pyongyang signalled its leader, Kim Jong Un, might pull out of the June summit with US President Donald Trump amid ongoing joint military drills involving South Korea and the US. The meeting to be held in Singapore may be scuttled if the US insists on denuclearisation for the isolated nation, news agencies reported.