Trump’s tariffs, ‘big beautiful Bill’ may do more for the Singapore market than the MAS review group
The Bill includes a clause that will allow the US government to raise tax rates on interest and dividends earned by foreign investors
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[SINGAPORE] When news broke early last Thursday (May 29) morning that a US federal court had struck down most of President Donald Trump’s sweeping tariffs, I was almost done selling a portfolio of US stocks that I had held since the global financial crisis.
With a tinge of seller’s remorse, I watched markets in Asia react positively and waited for what I assumed would be a strong rally in the S&P 500 when the US market opened.
The rally never really came. The S&P 500 closed on Thursday at 5,912.17, just 0.4 per cent higher than the previous day’s close of 5,888.55. On Friday, the benchmark US stock index closed less than 0.01 per cent lower at 5,911.69.
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