STI regains 3,000 support level

IN a month where bearish attitudes seem to dictate markets, it may be fitting that Asian stocks got a much needed lift in the final trading day of October after what has been the worst month for global markets in over six years.

The lift takes cue from positive earnings releases for the third quarter by American companies on Tuesday, which lifted Wall Street benchmarks and eased fears that rising costs of borrowing may hinder corporate investment.

IG's Pan Jingyi said: "Both US earnings and President Donald Trump's comments on trade with China had been perceived as positive on Tuesday, giving stocks a short-term boost."