Trump Comeback to White House Sparks Nearly 2% Surge in Singapore's Stocks; DBS Rises 7%

MT Newswires11-07

Singapore shares rallied nearly 2% on Thursday as the stock market reacted positively to the results of US presidential elections.

The Straits Times Index fluctuated between 3,623.56 and 3,686.64 during the day. It ended the session at 3,673.49, up 70.50 points or 1.96% from Wednesday's close.

Trump was elected the 47th President of the US, four years after he was voted out of the White House. International investors are confident that Trump's stance on industrial policy, tax cuts, and trade tariffs will fuel growth in the US and benefit equities.

In corporate news, DBS Group's net profit for the third quarter of the year was up 15% year over year to SG$3.03 billion, the first time that the lender's net profit surpassed the SG$3 billion mark, sending its shares up nearly 7% at market close.

CDL Hospitality Trusts closed 2% lower on Thursday, as it completed the acquisition of UK-based Hotel Indigo Exeter for a total consideration of 19.4 million pounds or SG$33.2 million.

Shares of KSH Holdings slipped nearly 2%, as the company disclosed that it expects to report a net loss for the half year ended Sept. 30.

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Comments

  • 琉璃思索
    11-07
    琉璃思索
    Why only report these big 3 banks stocks, why afraid to update our beautiful SIA stock is still struggling until today at 6.49, more than 3 months of their historical drops after ex.dividends payout on 01.August, free falling from 6.97 to 5.88 within one week, simply ridiculous. SG stocks are just wasting retail investor's time, lucky to sell all my SIA position when it hit 6.65 [NosePick]  
    • 琉璃思索: 
      smart alec, keep quiet and mai kpkb again
    • 琉璃思索: 
      correct my last, your target has been raise from 6.22 to 8.00 as of today
    • Babyfund: 
      US markets are much better for profit gains (short term). SG stocks are great to reap dividends. DBS, OCBC, UOB. SQ...its just an overrated brand. Flights for SQ are just exorbidant.
    • Menaka: 
      I totally agree
    • Beth6: 
      SIA... regretted buying. just hoping to breakeven and nv going to enter again
  • Vincentan59
    11-07
    Vincentan59
     Better go fly kites [Facepalm]  [Facepalm]  [Facepalm]  [Facepalm]  [Facepalm]  
  • Vincentan59
    11-07
    Vincentan59
    Player will suffer again like last nite [Cool]  [Cool]  [Cool]  [Cool]  [Cool]  [Cool]  
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