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Market rides on hopes of Fed pivot, economic soft landing
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The big mover among STI large caps was Singapore Airlines, which hit its highest levels since the first quarter of 2020.
ST PHOTO: LIM YAOHUI
SINGAPORE - Hope springs eternal, as the saying goes, and there is no shortage of that in the market these days.
After fretting about rising interest rates, credit crunch and a recession, markets now seem to be riding on hopes that the US Federal Reserve will pause on rate hikes (and perhaps even pivot), while economic indicators suggest that the world’s biggest economies are more resilient than previously expected.
