Trump win sends financial markets into overdrive
The Straits Times|November 11, 2024
Rally driven by hopes that deregulation will boost corporate activity and earnings
Ven Sreenivasan
Trump win sends financial markets into overdrive

Unexpected as it may have been for many market observers, Donald Trump's successful presidential bid has sent markets into overdrive, signaling Wall Street's anticipation of pro-growth and pro-business, but potentially inflationary, policies over the next four years.

Wall Street indexes reached new records on expectations that anticipated deregulation would boost corporate activity and earnings.

The Dow Jones Industrial Average shot up over 1,000 points on Nov 6 after the presidential election results poured in. For the week, the Wall Street marquee index is up 4.61 per cent to 43,988.99.

The S&P 500 saw its biggest weekly rise in a year as it briefly soared above the 6,000-point mark before settling with a 4.66 per cent weekly gain at 5,995.54. The tech-heavy Nasdaq rose 5.74 per cent to 19,286.78 points.

Tesla was the biggest winner for the week as it rose 30 per cent—not surprising, given investor Elon Musk's support for Trump. The Straits Times Index (STI) surged over 66 points after news broke of Trump's victory. The Singapore benchmark index spiked 4.8 per cent last week to 3,724.37 points—bringing it within 5 per cent striking distance of its October 2007 high at 3,906.16 points.

The STI has now generated a 20.7 per cent year-to-date total return, beating the FTSE Asia-Pacific Index's 15.5 per cent total return in Singdollar terms.

Lenders led the index, with UOB soaring 11.2 per cent, DBS Bank gaining 9.4 per cent and OCBC Bank up 5.8 per cent.

Yangzijiang Shipbuilding, which provided positive guidance for order wins, rose 5.9 per cent. Seatrium, whose chief executive Chris Ong is providing a closely watched third-quarter update on Nov 11, gained 5.3 per cent.

この記事は The Straits Times の November 11, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は The Straits Times の November 11, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

THE STRAITS TIMESのその他の記事すべて表示
K-pop star Psy's home temporarily seized due to penalty arrears
The Straits Times

K-pop star Psy's home temporarily seized due to penalty arrears

Singer Psy recently had his luxury home in Seoul temporarily seized by the authorities after he failed to pay an administrative penalty imposed by the district office, local media outlets reported on Nov 25.

time-read
1 min  |
November 28, 2024
BTS' Jimin and Jung Kook face off at Billboard Music Awards
The Straits Times

BTS' Jimin and Jung Kook face off at Billboard Music Awards

K-pop supergroup BTS members Jimin and Jung Kook will face off at the upcoming Billboard Music Awards (BBMAs), which will take place on Dec 12.

time-read
3 分  |
November 28, 2024
Stefanie Sun fails to nab Taipei Arena for 2025 world tour
The Straits Times

Stefanie Sun fails to nab Taipei Arena for 2025 world tour

It has been a decade since homegrown Mandopop star Stefanie Sun last headlined her own tour, so when her upcoming world tour Aut Nihilo Sun Yanzi In Concert was announced recently, fans went into a frenzy.

time-read
2 分  |
November 28, 2024
Society is sick': Actor Ryan Lian after netizens laugh at him for being attacked
The Straits Times

Society is sick': Actor Ryan Lian after netizens laugh at him for being attacked

Local actor Ryan Lian has hit back at netizens who were unkind to him after learning that he was injured in a recent knife attack.

time-read
1 min  |
November 28, 2024
The Straits Times

Binge-worthy K-variety series is a celebration of tenacity and sisterhood

Iron Girls follows the trials and triumphs of four award-winning South Korean actresses who signed up for the toughest roles of their lives – participants of the 2024 World Triathlon Cup in Tongyeong.

time-read
2 分  |
November 28, 2024
Problemista's whimsy is wearying, Blitz a conventional WWII drama
The Straits Times

Problemista's whimsy is wearying, Blitz a conventional WWII drama

Alejandro (Julio Torres) from El Salvador is an aspiring toy designer in New York City. With time running out on his American work visa, he becomes personal assistant to an erratic art critic (Tilda Swinton) as his only hope for a sponsored residency.

time-read
2 分  |
November 28, 2024
Moana 2 charts familiar waters, but stays buoyant
The Straits Times

Moana 2 charts familiar waters, but stays buoyant

Disney's second voyage with Moana dives deeper into Pacific culture

time-read
2 分  |
November 28, 2024
Shrek director tackles animation taboo in Netflix fairy tale Spellbound
The Straits Times

Shrek director tackles animation taboo in Netflix fairy tale Spellbound

Animated films tackling parent separation and divorce are few and far between.

time-read
2 分  |
November 28, 2024
New head hopes to offer alternative to 'junk food'
The Straits Times

New head hopes to offer alternative to 'junk food'

General manager of SGIFF Jeremy Chua courts young viewers and social media

time-read
4 分  |
November 28, 2024
Music kings take back their crowns
The Straits Times

Music kings take back their crowns

Must-see MV: G-Dragon – 2024 Mama performance medley

time-read
2 分  |
November 28, 2024