Yet, it is a more difficult task to determine where the Singapore market will head towards amid the hustings. As noted by DBS analysts, Singapore has no track record of a “pre-election rally”. In the last six general elections, there was no specific directional trend exhibited by the Straits Times Index (STI).
SINGAPORE (June 26): An oft-heard quip about Singapore politics is that the winner of the elections is a foregone conclusion, but that the date of the win, and the vote shares garnered, are not. In contrast, the date for US elections is known way in advance but the winner is not.
Now, at least one of the uncertainties has been removed. On July 10, despite worries that the Covid-19 outbreak has yet to be contained, Singapore will go to the polls, so that Prime Minister Lee Hsien Loong can “clear the deck” for his successor-in-waiting, Heng Swee Keat, and go about nursing the economy back to health with a fresh five-year mandate. “The government that you elect will have critical decisions to make,” he explains.
