STI leads region with 1.1% rise on back of vaccine optimism

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 24%
  • Publisher: 51%

THE Straits Times Index (STI) continued its ascent on Tuesday, following on the heels of Wall Street, where the S&P hit a record high overnight, as well as positive sentiment on the early success of Moderna's vaccine results. Read more at The Business Times.

Singapore Headlines News

Singapore Latest News, Singapore Headlines

Regional indices were mostly up. The Hang Seng Index added 0.13 per cent; Malaysia's KLCI gained 0.66 per cent. The Nikkei 225 advanced 0.42 per cent, while the Shanghai Composite dipped 0.21 per cent.

The most active counter of the day was LionGold, whose shares rose S$0.001 to S$0.002, on a volume of 798 million shares, after it posted slightlyimproved earnings of S$1.35 million for its first quarter ended Sept 30 last week. Stephen Innes, chief global markets strategist at Axi, said that after big gains for risky assets following the US election result, last week's announcement of a potentially successful Covid-19 vaccine provided a second catalyst to spur markets higher, with most of the funds rotating into the laggard, cyclical and"reopening" sectors.

"The vaccine news has understandably led to more positive sentiment. And seen from a down-the-road perspective, it's hard to argue that we will not be in store for a positive economic reassessment and improved macro environment, which will prove risk-positive and provide a favourable backdrop for risk assets," Mr Innes said.For daily updates on weekdays and specially selected content for the weekend.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.