STI gains 1.1% for week and 10.2% for first quarter

THE week just past was all about two things - how Wall Street would take the Trump administration's healthcare setback and to what extent quarter-ending window-dressing would manifest itself.

As it turned out, US investors clung on to hope that notwithstanding President Donald Trump's failure to deliver on his healthcare reform he might still be able to succeed with his budget - even if details on this are still very vague. The outcome was therefore that Wall Street managed to stabilise after a rocky week, though a firm oil market may have also played some role.

As for window-dressing, there was the predictable push on Jardine stocks earlier in the week, particularly Hongkong Land. On Friday though, the Straits Times Index (STI) managed only a 1.87-point rise to 3,175.11 that brought its gain for the week to 33 points or 1.1 per cent. Its gain for the quarter was 295 points or 10.2 per cent.