Singapore Stocks Bounce Past Lockdown to Outperform Asian Peers
- Benchmark outperforms Asia-Pacific index by most since March
- Investors see outbreak as brief, as vaccinations increase
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Singapore stocks are defying the nation’s latest lockdown, as traders bet that rising vaccination rates lead to a reopening of the economy.
The benchmark Straits Times Index has risen almost 1% in July, snapping two months of losses, even after the latest virus outbreak swept through karaoke lounges and a fishery port. While the spread of the virus has prompted new restrictions, the government is holding onto plans to reopen the economy after vaccinating two-thirds of the population.