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"Fiscal Cliff" in US threatens stability in Straits Times Index
By Jay Chia - Your Financial Mentor  •  November 12, 2012
"Fiscal Cliff" in US threatens stability in Straits Times Index

"Fiscal Cliff" in US threatens stability in Straits Times Index

Last week’s US election ended with a bang as Obama got re-elected to continue for another 4 years term as a president. His win was seen as a positive thing for the Asian market as the markets rallied strongly on Wednesday which caused STI to reach as high as 3044 level. However, the US traders were not convinced on the assurance of the ability of the new president to help the US economy to get back on its feet. DJI plunged strongly on Wednesday night which caused STI to return all its gains on the next day. Fears of “Fiscal cliff” to happen in US continues to be the hot topic till the end of the week which caused STI to creep lower for the week. STI ended as a bearish week with 31.19pts lower, closing at 3009 level. ...

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By Jay Chia - Your Financial Mentor
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