Singapore Stocks’ Winning Run Is Under Threat
- Singapore stocks set to be Asia’s best performers this week
- Straits Times Index posted longest rally since December 2014
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Singapore’s stock index is set to post the biggest increase in Asia this week, driven by its longest winning streak in two years. The party may be short-lived.
The city-state’s Straits Times Index climbed 2.4 percent this week to 2,928.58 on Thursday, making it the seventh-best performer globally. The gauge has risen for eight straight days, the longest stretch of gains since December 2014. It is also still one of Asia’s cheapest stock markets -- the Straits Times Index is trading at 12.4 times reported earnings, the lowest in the region after Pakistan -- as investors remain cautious about further gains.