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Market View: Magnificent 7 lose steam – can tech still deliver in 2025?
Singapore shares opened lower this morning, as Asian markets struggled for direction midweek. By midday, the local banks traded mixed - DBS slipped 0.5%, OCBC was flat, and UOB inched up 0.2%. Still, the Straits Times Index managed to close higher, rising 1% to 3,662 points. In the US, renewed tariff tensions and prolonged negotiations among trade partners have rattled markets, stoking concerns over weakening business confidence and slowing consumer spending raising the risk of a potential recession. Meanwhile, the Magnificent 7 tech stocks - Apple, Microsoft, Alphabet and others, after…
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