In this week’s update brought to you in partnership with the Securities Investors Association Singapore (SIAS), we’re diving into the major events impacting the global equity markets. We also take a closer look at developments with OCBC and Suntec REIT. Tune into our video for a deeper insight into our focus for the coming days.
Let’s jump into the Weekly Market Review.
Macro Update
The week was not kind to the US markets, as the S&P 500 slipped 2%, with technology stocks pulling down both the NASDAQ and the Dow Jones. Meanwhile, the Singapore Straits Times Index (STI) held up relatively well, thanks largely to gains in banking stocks, despite setbacks in property-linked equities. The standout news of the week was the unexpectedly strong US jobs report for December, which showed a creation of over 250,000 jobs. This comfortably beat market forecasts of 150,000, underscoring the robustness of the labor market along with the economy’s resilience. Consequently, US 10-year government bond yields surged to 4.77%, marking their highest point in over a year. Investors have taken notice…
