The Straits Times Index ended the month of November with a bang despite all the concerns on the results of US presidency election. Opec’s meeting last week concluded with reduction in production of oil supply. This lifted the sentiment in Singapore market as oil-related industries in Singapore are facing dire state.
The Straits Times Index managed to maintain its bullish momentum last week. Concerns on Trump’s upcoming presidential seat have turned into a picture of a beautiful painting of pro-business decisions. Interest rate hikes that used to cause negative sentiments have not turned into positive sentiment for the market.
Post US-election week had turned out to be a volatile week as market concerns mounted due to upcoming President Trump’s promises during his election talk. The week started bearishly as the market starts to digest on one of the biggest talk after Trump’s win; The Trans-Pacific Pact (TPP).