Cyclical stocks should continue to buoy the Straits Times Index. Since Joe Biden was announced winner of the US election on Nov 7, the local market has strengthened. For instance, the STI ended the first session after the US election at 2,609, and broke above its 200-day moving average on Nov 10 when it closed at 2,705. The STI closed at 2,839 on Dec 4, after retreating from an intra-day high of 2,903 on Nov 25. and down 16 points week-on-week.

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