Singapore, other Asian markets up on progress in Biden transition
STI rises 1.5 per cent or 42.85 points to 2,891.63, with transport-related counters the best performing for the day.
Add BT as a preferred sourceClaudia Tan HS
SINGAPORE shares advanced on Tuesday following news of President Donald Trump giving the green light for President-elect Joe Biden to proceed with his White House transition, boosting the already positive sentiment from prospects of an economic recovery.
Oanda Asia-Pacific senior market analyst Jeffery Halley said: "Markets love certainty and the move by Trump overnight partially removes ambiguity over the Presidential succession."
With a Biden administration "expected to be much less isolationist", and the hope that the US will re-engage on global trade and improve relations with China, it will also be positive for Asia, he said.
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