Singapore Stocks Shine in Asia Boosted by Rising U.S. Yields
- Shares of Singapore Airlines are top gainers on the benchmark
- Rising yields benefit value stocks that Singapore has a lot of
Photographer: Nicky Loh/Bloomberg
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Singapore’s benchmark stock index jumped, leading gains in the Asia Pacific region, after the city state’s many cyclical stocks got a jolt from a surge in U.S. Treasury yields.
The Straits Times Index rallied as much as 2.1%, the most in more than two months, topping the 0.3% gain in the MSCI Asia Pacific Index. The advance was led by beaten-down shares in the banking, travel and property sectors.