US-China trade tensions are likely to affect the Singapore equity market, say analysts, even as US markets get set to soar
ASIAN and Singapore stocks in the tech and manufacturing sector, as well as those with exposure to China, look set to take a hit in the short term as Asia contends with a Trump 2.0 presidency.
However, over in the US, investors welcomed the result. The Dow Jones Industrial Average’s futures surged 1,300 points ahead of Wednesday’s open, and Bitcoin hit a record of over US$75,000.
With the Republicans set for a so-called “red sweep” – winning the White House as well as taking control of both the House and Senate – there may be tax cuts which are likely to boost corporate earnings, though they could widen the fiscal deficit and spur inflation.
