FXTM market analyst Han Tan said:"The move suggests that key concessions are being made in order to increase the prospects of a partial US-China deal, which is giving investors another opportunity to capitalise on risk-on trading activity."quoted experts close to the Chinese government as saying that the US and China are close to a deal and Beijing is committed to continuing talks for further agreements.
However, Stephen Innes of AxiTrader noted:"This type of headline will be that much more believable when both parties schedule a date and venue to put pen to paper on phase one, and for the US to make an official announcement about delaying December tariffs. Such simple steps would go a long way to giving investors confidence in the holiday season."
Turnover on the Singapore bourse was 1.36 billion securities worth S$1.14 billion. Losers outnumbered gainers 202 to 167. Rex International was the most active counter, gaining 0.6 Singapore cent or 3.45 per cent to S$0.18 on a volume of 171.4 million shares. It was followed by Golden Agri-Resources, which lost one Singapore cent or 4.35 per cent to S$0.22 with 115.5 million shares traded.
RHT Health Trust called for a trading halt on Monday morning. No announcement had been made as at market close.
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