STI joins global share rally as US election hangs in the balance
Political gridlock may keep Trump tax cuts from being reversed, but hinder stimulus efforts.
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WITH the outcome of the US election still hanging in the balance, stock markets around the world staged strong rallies during their most recent trading sessions.
Analysts and investors had initially been hoping for a decisive outcome, but many seem to now accept that some political gridlock might well be a good thing.
"On the bright side, Trump's tax cuts are unlikely to be reversed under this scenario," said the Bank of Singapore in a research note on Thursday, adding that political gridlock will also make it harder for stimulus spending programmes to be enacted.
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