Singapore Stocks Rise to 17-Year High on Rate Hopes, Dividends
Singapore stocks climbed to their highest level since 2007 as the prospect of lower interest rates lifted the city-state’s real estate investment trusts, and boosted the appeal of the high-yielding market.
The benchmark Straits Times Index closed 1.1% higher on Thursday, taking its year-to-date gains to 12%. Much of the advance was driven by REITs, which are getting a boost from potentially lower rates. Meanwhile, banking shares have performed well thanks to strong dividend expectations and solid loan growth.