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Singapore Stocks Index Is Sole Winner Among Developed Markets This Year

  • Singapore equity gauge up 1% this year, world index down 23%
  • Limited presence of tech stocks helps shore up performance
Updated on

Singapore has the perfect stocks blend to weather 2022’s woes just as stagflation concerns are spurring losses across the world’s biggest developed markets.

Straits Times Index, the small Asian city-state’s equities benchmark, has eked out a gain of about 1% so far this year, making the cyclical-heavy measure the only developed-market gauge in positive territory in dollar terms. In contrast, a world gauge is down almost 23% in what could be its worst year since the 2008 global financial crisis.