Singapore Stocks Rally is Pricing in Virus Bottom, Citi Says
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The recent surge in Singapore stocks from a bottom at the end of March suggests investors are starting to price in a post-coronavirus recovery, according to analysts with Citigroup Inc.
The Straits Times Index has climbed 17% since hitting its lowest level in more than a decade as recent economic indicators including exports and cargo volumes growth have begun to indicate a year-on-year bottom, Patrick Yau, analyst with Citi, said in a note to clients.