Singapore Stocks Erase Covid Loss as Reopening, Value Take Hold
- Benchmark surges 5% this year to surpass January 2020 high
- Gauge still lags regional peers in erasing virus-era declines
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Singapore’s equity benchmark has erased losses accrued during the pandemic thanks to the nation’s policy of living with the virus and a global rotation toward value stocks.
The cyclicals-heavy Straits Times Index has been hovering close to its January 2020 high of 3,281.03 since Friday. The gauge has risen 5% this year with lenders such as United Overseas Bank Ltd. and restructured firms such as Sembcorp Industries Ltd. among the leading gainers over that period.