Weekly Singapore Stock Market Round Up: STI Hits High on Interest Rate Cut, Trump Election Win, and Strong Bank Earnings

The Smart Investor11-11

[ Share Facebook Twitter LinkedIn Email WhatsApp Singapore’s benchmark Straits Times Index (SGX: ^STI) closed the week on yet another 17-year high at 3,724.37, marking a solid 4.76% gain...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2482218291?lang=en_US&edition=fundamental","thumbnail":"https://thesmartinvestor.com.sg/wp-content/uploads/2024/08/8-300x200.png","is_english":true,"pubTime":"2024-11-11 06:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2482218291","market":"us","top_or_hot":-1,"title":"Weekly Singapore Stock Market Round Up: STI Hits High on Interest Rate Cut, Trump Election Win, and Strong Bank Earnings","media":"The Smart Investor","content":"<div>\n<p>[\n\n\n\nShare\n\n\nFacebook\n\nTwitter\n\nLinkedIn\n\nEmail\n\nWhatsApp\n\n\n\n\n\nSingapore’s benchmark Straits Times Index (SGX: ^STI) closed the week on yet another 17-year high at 3,724.37, marking a solid 4.76% gain...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/weekly-singapore-stock-market-round-up-sti-hits-high-on-interest-rate-cut-trump-election-win-and-strong-bank-earnings/\">Source Link</a>\n\n</div>\n","source":"thesmartinvestor_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Weekly Singapore Stock Market Round Up: STI Hits High on Interest Rate Cut, Trump Election Win, and Strong Bank Earnings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWeekly Singapore Stock Market Round Up: STI Hits High on Interest Rate Cut, Trump Election Win, and Strong Bank Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-11 06:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/weekly-singapore-stock-market-round-up-sti-hits-high-on-interest-rate-cut-trump-election-win-and-strong-bank-earnings/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>[\n\n\n\nShare\n\n\nFacebook\n\nTwitter\n\nLinkedIn\n\nEmail\n\nWhatsApp\n\n\n\n\n\nSingapore’s benchmark Straits Times Index (SGX: ^STI) closed the week on yet another 17-year high at 3,724.37, marking a solid 4.76% gain...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/weekly-singapore-stock-market-round-up-sti-hits-high-on-interest-rate-cut-trump-election-win-and-strong-bank-earnings/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"STI.SI","symbol_name":"富时新加坡海峡指数","start_time":0,"source_url":"https://thesmartinvestor.com.sg/weekly-singapore-stock-market-round-up-sti-hits-high-on-interest-rate-cut-trump-election-win-and-strong-bank-earnings/","article_id":"2482218291","we_media_id":null,"thumbnails":["https://thesmartinvestor.com.sg/wp-content/uploads/2024/08/8-300x200.png"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482218291","pubTimestamp":1731276000,"sourceInfo":{"source_id":"thesmartinvestor_highlight","name":"The Smart Investor"},"weMediaInfo":null,"summary":"Singapore’s stock market saw strong gains this week as the US Fed cut rates, Trump won the election, and major banks reported impressive earnings.","collect":0,"end_time":0,"defaultTopTitle":"thesmartinvestor.com.sg","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"STI.SI":"富时新加坡海峡指数","STI":"Solidion Technology Inc."},"translate_title":"新加坡股市每周综述：STI因降息、特朗普大选获胜和银行盈利强劲而触及高位","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"STI":1,"STI.SI":1},"content_text":"[\n\n\n\nShare\n\n\nFacebook\n\nTwitter\n\nLinkedIn\n\nEmail\n\nWhatsApp\n\n\n\n\n\nSingapore’s benchmark Straits Times Index (SGX: ^STI) closed the week on yet another 17-year high at 3,724.37, marking a solid 4.76% gain from the previous week. This surge followed the announcement that the US Federal Reserve had cut interest rates by a quarter percentage point on Thursday, bringing the benchmark overnight rate to the 4.5% to 4.75% range. We covered the impact of the interest rate cut on the stock market here.\nNews of Republican candidate Donald Trump’s victory in the 2024 US presidential election led to a global rally in stock markets. On Thursday, after the election results were announced, the STI rose by more than 2%.\nBanks Reach New Heights\nAll three of Singapore’s major banks hit all-time highs following strong third-quarter earnings reports.\nUOB (SGX: U11) gained 7.2% or S$2.39 at S$35.69. UOB posted a net profit of S$1.61 billion for the third quarter ended September 2024, beating Bloomberg consensus estimates.\nOCBC (SGX: O39) closed at a high of $16.06 with its quarterly net profit of S$1.97 billion also beat earning estimates. \nDBS (SGX: D05) hit S$42.40 as the company saw its net profit cross the S$3 billion mark for the first time and announced a share buyback programme.\nYangzijiang Shipbuilding Hits 52-Week High\nIn another standout performance, Maritime vessel maker Yangzijiang Shipbuilding (SGX: BS6) saw its shares hit a 52-week high. The company announced it had secured US$11.6 billion in new orders so far this year, contributing to a 74% year-to-date gain in its share price.\nGenting Singapore Declines\nGenting Singapore (SGX: G13) bucked the trend, hitting a 2-year low to close at S$0.79 after following disappointing third-quarter results.\nUS Markets Soar on Election News\nOver on Wall Street, US stocks surged to record highs on November 6, driven by the outcome of the US Presidential Elections. The Dow Industrials, S&P 500, and Nasdaq Composite all hit new highs, while bank stocks, in particular, performed exceptionally well. The S&P 500 bank index rose to its highest point in two years. Tesla (NASDAQ: TSLA) also saw its stock jump 8.2%, reflecting investor optimism, partly driven by CEO Elon Musk’s vocal support for Donald Trump during the electoral campaign.\nAfter the Fed announced the interest rates cut, U.S. stocks cruised to more records as they closed their best week in a year on Friday.\nHong Kong and Shanghai Markets Fall Amid Anticipation of Economic Stimulus\nMarkets in Hong Kong and Shanghai dropped as investors waited for Beijing to announce measures to boost the slowing Chinese economy after a meeting of the legislature’s Standing Committee. This was despite the Hong Kong Monetary Authority cutting its base rate to 5% from 5.25%.\nIf you’re looking to buy the next S$100 billion stock in SGX, pay attention to our newest FREE report. We dug deep and uncovered which SGX companies have the potential for massive growth. Even if the numbers look great, things aren’t always what they seem. We let the numbers tell us the full story. Download for free now!Follow us on Facebook and Telegram for the latest investing news and analyses!\nJoanna Sng owns shares of UOB, OCBC, and DBS.\n\n\n\nYahoo\n]","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482218291"}