From banks to small-caps, Trump victory drives rally in stocks

Quick Summary:

Donald Trump's return as US president boosted equity markets on Wednesday (Nov 6) on bets of lower corporate tax, favourable tariffs and deregulation, lifting shares of banks, locally focused small-cap companies and Trump Media.

Trump's Republican Party also secured the Senate and was making gains in the House of Representatives, potentially making it easier for the president to legislate his proposals and push through key appointments.

Markets "have priced in a pretty strong mandate for the Republicans and are biasing toward most of the Trump trades," said Scott Chronert, US equity strategist at Citi.

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Article Details

Category: EconomyBusiness

Markets: SingaporeGermany

Topics: Cent Shares Banks Latest Stock Trump Bank Donald Wednesday 2024 Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 03:21:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 537 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 23451766

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 61 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 1 hours ago

Coverage Areas: Singapore

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Publication Timezone: GMT +8:00

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Publisher ID: #27

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