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US missile attack on Syria a profit-taking excuse, says DBS

PC Lee
PC Lee4/10/2017 12:35 PM GMT+08  • 2 min read
US missile attack on Syria a profit-taking excuse, says DBS
SINGAPORE (April 10): DBS is hoping that last week’s US missile attack on Syria is a one-off. Whatever the case, the latest spike in geopolitical uncertainty has given investors a “good excuse” to go “risk-off” while safe haven assets rebounded.
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SINGAPORE (April 10): DBS is hoping that last week’s US missile attack on Syria is a one-off. Whatever the case, the latest spike in geopolitical uncertainty has given investors a “good excuse” to go “risk-off” while safe haven assets rebounded.

Last Friday, the US launched a missile attack against Syria in response to Assad’s use of poison gas against his own civilians. The worry is that the situation could escalate. Russia’s deputy UN ambassador said, before the strikes were made public, that any US military action would have “negative consequences”.

Equities reacted down, and oil price rose on this latest Middle East development, while gold and bonds rebounded from the flight to safety. Initial reactions from countries do not suggest an escalation of uncertainty and financial markets’ initial knee-jerk reaction to the missile strike had eased by last Friday’s end.

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