Photographer: Nicky Loh/Bloomberg

Singapore Tops Developed Asia Rivals on Earnings Surprise: Chart

Singapore companies’ first-quarter earnings might have helped the island’s benchmark stock index weather a slump better than developed Asian peers this year. Company earnings among Straits Times Index stocks beat analyst estimates for the first quarter, outperforming regional benchmarks and those in Hong Kong and Japan. While that has been reflected in the indexes’ performances this year, the future is less clear-cut: mean one-year forward earnings estimates for STI companies are down about 5 percent from where they were at the start of the year.

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