
SIAS
2020-11-22 20:35:40
New trade deal, vaccine news drove markets
The Straits Times Index gained 3.8% over the week at 2,813.01;
Main drivers were a new trade deal and vaccine news;
Wall Street dipped on Friday as Treasury and Fed disagree on emergency funds;
DBS India to merge with troubled Lakshmi Vilas;
Starburst’s bosses under investigation;
Penny stocks in play included Oceanus and Blumont;
SPH’s shares surge 22% on Friday on restructuring speculation
RCEP and vaccine news provided main backdrop
News of the freshly signed Regional Comprehensive Economic Partnership (RCEP), a mega free trade deal backed by China and involving 14 other Asia-Pacific countries including Singapore was one big driver of the local stock market in the early part of the week.
The other driver was hope that there might be a viable vaccine soon to combat COVID-19, th