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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. ....
China s growth beats estimates as economy powers out of COVID Bloomberg News, Bloomberg News VIDEO SIGN OUT Chinaâs economy roared back to pre-pandemic growth rates in the fourth quarter as its industrial engines fired up to meet surging demand for exports, pushing the full-year expansion beyond estimates and propelling its global advance. Gross domestic product climbed 6.5 per cent in the final quarter from a year earlier, pushing growth to 2.3 per cent for the full year. That leaves the worldâs second-largest economy driving global growth and potentially passing U.S. GDP sooner than previously expected. Rebound in China The V-shaped recovery from the biggest slump on record was engineered by getting COVID-19 under control and deploying fiscal and monetary stimulus to boost investment. Growth accelerated as the nationâs factories revved up to meet demand for medical equipment and work-from-home devices in an export bonanza that saw i ....