Markets Watch

Markets hit new highs amid growing optimism

Equities set to remain investment of choice, given factors like liquidity, low interest rates

Profitability of the three local lenders - DBS Bank, OCBC Bank and UOB - is set to improve this year, helped by a sequential economic recovery.ST PHOTO: KELVIN CHNG

Wall Street indexes hit new highs last week amid optimism over the Covid-19 vaccine roll-out, fiscal stimulus packages and generally improving economic numbers.

Fears of a United States Federal Reserve tapering were put to rest when Fed chairman Jerome Powell said last Wednesday that despite the US unemployment rate having fallen to 6.3 per cent, the employment picture is "a long way" from where it needs to be.

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