Singapore s stellar stock run stalls as virus cases jump yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
SINGAPORE (BLOOMBERG) - A rally in one of Asia’s best-performing stock markets is stalling amid rising virus cases at home and a rethink of the global reflation trade.
Second only to Taiwan among Asia’s major benchmarks this year, Singapore’s Straits Times Index (STI) has slipped 1 per cent so far in May, paring 2021’s gains to about 12 per cent. The reintroduction of social distancing rules following the emergence of new clusters has weighed on investor sentiment, despite the country having one of the highest vaccine coverage in Asia.
But this isn’t only a Singapore story. The Asian financial hub is a microcosm of the worldwide economic rebound, with exports standing at more than 150 per cent of gross domestic product. And with an Asia-leading 86 per cent weighting in so-called cyclicals, the STI has stuttered alongside a pause in the global rotation to such economically-sensitive shares.
(Bloomberg) Equity investors expecting a big boost for Singapore’s benchmark index from its upcoming annual budget could be disappointed: heavyweight blue chips are unlikely to benefit from government largesse.Aimed at reversing the nation’s worst economic contraction since it became independent in 1965, Tuesday’s budget is set to focus on the pandemic-hit travel sector or firms with mandates in line with green or digital initiatives, say analysts.That’s bad news for the benchmark Straits Times Index, which has risen 3.5% so far this year. The gauge is lagging the broader MSCI Asia Pacific Index by six percentage points even though Singapore has managed to contain the spread of the virus.“The upcoming budget is unlikely to be a game changer,” said Kee Yan Yeo, analyst at DBS Group Holdings Ltd.Government proposals will likely focus on struggling aviation and tourism sectors, or companies seeking to expand, digitize or invest in new technologi
Proposals will likely focus on aviation, tourism sectors SINGAPORE: Equity investors expecting a big boost for Singapore’s benchmark index from its upcoming annual budget could be disappointed: heavyweight blue chips are unlikely to benefit from government largess.
Aimed at reversing the nation’s worst economic contraction since it became independent in 1965, tomorrow’s budget is set to focus on the pandemic-hit travel sector or firms with mandates in line with green or digital initiatives, say analysts.
That’s bad news for the benchmark Straits Times Index, which has risen 2.9% so far this year.
The gauge has significantly underperformed the broader MSCI Asia Pacific Index even though Singapore has managed to contain the spread of the virus.
Banks, Property Stocks Could Be Losers in Singapore’s Budget
Bloomberg 2/15/2021 Ishika Mookerjee and Abhishek Vishnoi
(Bloomberg) Equity investors expecting a big boost for Singapore’s benchmark index from its upcoming annual budget could be disappointed: heavyweight blue chips are unlikely to benefit from government largesse.
Aimed at reversing the nation’s worst economic contraction since it became independent in 1965, Tuesday’s budget is set to focus on the pandemic-hit travel sector or firms with mandates in line with green or digital initiatives, say analysts.
That’s bad news for the benchmark Straits Times Index, which has risen 3.5% so far this year. The gauge is lagging the broader MSCI Asia Pacific Index by six percentage points even though Singapore has managed to contain the spread of the virus.