Markets react to Trump-Kim summit

Photo: CNN

US President Donald Trump and North Korean leader Kim Jong-un concluded their historic summit by signing a joint document in which they committed to working "toward complete denuclearization of the Korean Peninsula" and joining together "to build a lasting and stable peace regime" on the Korean Peninsula.

The meeting drew the close attention of global investors and exerted influence on the markets.

Calm market

Markets were calm after the Trump-Kim summit. US stock futures were steady.

European markets posted small gains in early trading.

Most Asian markets closed higher, while South Korea's KOSPI index dipped by 0.1%.

Gains for Singapore

"Singapore will spend about S$20 million to host the summit," Prime Minister Lee Hsien Loong had revealed on Sunday.

Despite the huge cost, the southeastern Asian country would be benefiting from the meeting in the long term, said analysts.

According to the Singapore Department of Statistics (DOS), thousands of global tourists, including over 2,500 journalists, traveled to Singapore during the Trump-Kim summit period.

"If they stay in Singapore for three and half days, each of them will spend S$1,500, which means the summit will bring in a revenue of at least S$21 million for the government," experts added.

More importantly, the summit has significantly improved Singapore's international status and image.

Since the announcement of the Trump-Kim summit, the city-state has become the focus of the world.

Its success in hosting the Trump-Kim summit further convinces people that Singapore is a quality, safe and reliable country, which is conducive to attracting investment from global investors.

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