• About Us
    • Fact Checking Policy
    • Ownership & funding information
    • Volunteer
  • Subscribe
  • Letter submission
    • Submissions Policy
  • Contact Us
The Online Citizen Asia
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
The Online Citizen Asia
No Result
View All Result

A wake-up call for the markets

by onlinecitizen
31/01/2017
in Finance
Reading Time: 2 mins read
0

Image from shutterstock

By Margaret Yang, CMC Markets
US equity markets lost around 0.6% last night following President Trump’s travel ban on seven predominantly Muslim countries – a step to materialise his immigration policy as promised in his election campaign.  This action quickly received strong dissent from social groups and gave rise to protests in the airports.
What worried the market was that this could be just the beginning, and that served as a “wake-up call” to all investors after the long weekend. Trump’s immigration fire may soon spread to other working visas.
According to Bloomberg news, Trump’s administration has drafted an executive order aimed at overhauling the work-visa programmes that Silicon Valley giants such as Microsoft, Apple and Amazon depend on to hire thousands of foreign talents each year. Businesses would have to hire American first and if they intend to hire foreigners, priority would have to be given to the most highly paid foreigners, which will considerably increase company’s operation costs.
This policy, if implemented, would have a far-reaching impact on the long-term development of the US’s role in the fields of science and technology. It is also arguable that the incentive of creating more jobs for Americans would probably end up having the opposite effect – a backward move for Silicon Valley would scrap thousands of jobs.
In Singapore, SIA Engineering, Hutchison Port, GLP and Starhub will announce their earnings this week.
The STI rallied over 6.4% in January, marking the best performing market in Asia. This rally has partially priced in favourable 4Q corporate earnings and higher crude oil prices this year. However, the sustainability of this bullish sentiment will be tested in February, in which two thirds of the blue chip companies’ earnings will be announced.
US NDAQ 100 – Cash
market20170131
Margaret Yang Yan, CFA, is a market analyst for CMC Markets Singapore.

For just US$7.50 a month, sign up as a subscriber on The Online Citizen Asia (and enjoy ads-free experience on our site) to support our mission to transform TOC into an alternative mainstream press.

Related Posts

Record jobs growth in 2022, but no breakdown of the foreign and local workers in the workforce and jobs growth
Labour

Record jobs growth in 2022, but no breakdown of the foreign and local workers in the workforce and jobs growth

01/02/2023
Temasek and GIC reportedly in talks with Adani Group accused of “brazen” market manipulation and accounting fraud
Business

Market ignores Adani’s 413-paged rebuttal against Hindenburg’s allegation and continues the sell-off

01/02/2023
Driver dies after vehicle fell into sea at Keppel Terminal
Singapore

Driver dies after vehicle fell into sea at Keppel Terminal

01/02/2023
One pilot dead after Vietnamese military fighter jet crash
AFP

One pilot dead after Vietnamese military fighter jet crash

31/01/2023
Japan and NATO pledge ‘firm’ response to China, Russia threats
AFP

Japan and NATO pledge ‘firm’ response to China, Russia threats

31/01/2023
Japanese junior high school sprinter breaks another record in prefectural race
Japan

Japanese junior high school sprinter breaks another record in prefectural race

31/01/2023
Subscribe
Connect withD
Login
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of
Connect withD
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
0 Comments
Inline Feedbacks
View all comments

Latest posts

Record jobs growth in 2022, but no breakdown of the foreign and local workers in the workforce and jobs growth

Record jobs growth in 2022, but no breakdown of the foreign and local workers in the workforce and jobs growth

01/02/2023
Temasek and GIC reportedly in talks with Adani Group accused of “brazen” market manipulation and accounting fraud

Market ignores Adani’s 413-paged rebuttal against Hindenburg’s allegation and continues the sell-off

01/02/2023
Driver dies after vehicle fell into sea at Keppel Terminal

Driver dies after vehicle fell into sea at Keppel Terminal

01/02/2023
One pilot dead after Vietnamese military fighter jet crash

One pilot dead after Vietnamese military fighter jet crash

31/01/2023
Japan and NATO pledge ‘firm’ response to China, Russia threats

Japan and NATO pledge ‘firm’ response to China, Russia threats

31/01/2023
Japanese junior high school sprinter breaks another record in prefectural race

Japanese junior high school sprinter breaks another record in prefectural race

31/01/2023
Malaysia PM stressed the need for people to be allowed to effectively and actively participate in civil society

Malaysia PM stressed the need for people to be allowed to effectively and actively participate in civil society

31/01/2023
Million-dollar overpayments made by various ministries, public agencies highlighted in sampled audit by Auditor-General Office amongst various lapses

Singapore ranked least corrupt country in Asia, fifth in the world

31/01/2023

Trending posts

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

by Yee Loon
30/01/2023
19

...

Two Indian nationals paid about S$330 and S$730 respectively for forged certificates submitted in their S-Pass application

MOM found issuing EPs meant for foreign PMETs to PRC waitress and general worker

by Correspondent
26/01/2023
41

...

Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

by Yee Loon
26/01/2023
24

...

Indian rupee falls 60% since signing of CECA while Singapore becomes top investor in India

by Correspondent
25/01/2023
66

...

Temasek and GIC reportedly in talks with Adani Group accused of “brazen” market manipulation and accounting fraud

Temasek and GIC reportedly in talks with Adani Group accused of “brazen” market manipulation and accounting fraud

by The Online Citizen
26/01/2023
58

...

Ho Ching breaks silence over Temasek’s write down of its US$275 million investment in FTX, says it “can afford to be contrarian”

US regulator questions VCs’ due diligence work prior to investing in FTX; Ho Ching says Temasek can afford to be contrarian

by The Online Citizen
24/01/2023
28

...

January 2017
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Dec   Feb »

The Online Citizen is a regional online publication based in Taiwan and formerly Singapore’s longest-running independent online media platform.

Navigation

  • Editorial
  • Commentaries
  • Opinion
  • Politics
  • Community

Support

  • Contact Us
  • Letter submission
  • Membership subscription

Follow Us

  • Facebook
  • Twitter
  • YouTube
  • Instagram
  • Fact Checking Policy
  • Privacy Policy

© 2022 - 2023 The Online Citizen Asia

No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Comments
  • Current Affairs
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Civil Society
    • Arts & Culture
    • Consumer Watch
    • NGO
  • Politics
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
  • Lifestyle
    • Travel
  • Subscribers login

© 2022 - 2023 The Online Citizen Asia

wpDiscuz