15 May '11, 9pm

Retirement news will not hit markets hard

SINGAPORE - Market analysts are not expecting the local stock market to take a big hit when it starts trading today following news of the retirement of Minister Mentor Lee Kuan Yew and Senior Minister Goh Chok Tong from the Cabinet. Some analysts do expect the market to take a slight dip when it opens but it will be because local investors are reacting to the losses in the US markets on Friday. Any sell-off in the Singapore Exchange early this week will only be temporary, they say. "I think there would be a short and small dip but the downtrend would be due more to macro factors rather than the news of Mr Lee and Mr Goh's retirement," said Mr Roger Tan, vice-president and head of research at SIAS Research. On Saturday, Mr Lee and Mr Goh said they would leave the Cabinet for Prime Minister Lee Hsien Loong and his team to have a fresh clean slate. Mr Tan said: "Both these ge...

Full article: http://www.todayonline.com/Business/EDC110516-0000214/Ret...

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