POLITICAL developments in the US dominated the headlines this week but despite Wall Street’s worries and weakness, the Straits Times Index (STI) proved to be reasonably resilient ) on Friday, its 4.74 point fall to 3,216.92 brought its loss for the week to just 38 points or 1.2 per cent.
Trading volume between Monday and Thursday averaged S$1.3 billion, dipping on Friday to two billion units worth S$1.2 billion. Excluding warrants, there were 214 rises versus 207 falls so trading was very mixed.
Wall Street was rocked early in the week by reports that US President Donald Trump may have asked ex-FBI director James Comey to drop the investigation into ex-national security adviser Michael Flynn’s alleged Russian ties.
As the week progressed, the discussion centred on whether there had been obstruction of justice and if so, whether it is an impeachable offence.
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