SINGAPORE - Signs that US President-elect Joe Biden's transition to the White House is well under way and developments that bode well for coronavirus vaccines are driving a rally in stock markets across the world.
Japan's Nikkei Stock Average rose 0.5 per cent to a 29-year high, while Thailand and Malaysia were up more than 1 per cent. He pointed out that the STI had lost 20 per cent from January until this month, when it started rising. Until that point, it had been the second worst performer in Asia this year, after Thailand.
"The world is going to look a lot better this time next year than it does now, and that's what equity markets are reflecting," JP Morgan Asset Management global market strategist Mike Bell told Reuters. Singapore stocks' valuations have also become more"compelling" amid a slew of positive news, said Morgan Stanley.
realDonaldTrump The positive vaccines news drove up the stocks. Thanks to Trump! The US news may drive the stocks up temporarily as the world thought that without America First, their PRC playground will grow further!Wrong! Don’t sell your soul to gain economic recovery!