18 May '11, 3pm

Analysts do not expect Cabinet reshuffle to affect stock market

Analysts do not expect Cabinet reshuffle to affect stock market

SINGAPORE : The Singapore stock market inched higher, with the ST Index rising 0.15 per cent to 3,141.21 points, following the unveiling of the new Cabinet by Prime Minister Lee Hsien Loong on Wednesday. Analysts said they do not expect the leadership reshuffle to cause wild swings in the market going forward. This is because the general political environment is expected to remain stable, they added. There were some sweeping changes, with three ministers - Deputy Prime Minister Wong Kan Seng, National Development Minister Mah Bow Tan and Transport Minister Raymond Lim - retiring from the Cabinet. However, Finance Minister Tharman Shanmugaratnam and Minister for Trade and Industry Lim Hng Kiang retained their portfolios. Analysts said this would help ensure continuity in policies and bolster confidence in the market. Associate Professor Annie Koh, Dean, Executive and Profes...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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