In 2020, the Singapore Straits Times Index (STI) has been suffering as the worst performer in Asia after losing 11.8%.
Despite the pandemic is still around, the STI gained around 12.2% so far from the beginning of 2021.
The STI is one of the best performers in Asia so far, 0.2% behind Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) with 12.4% gain.
The STI is a market capitalization weighted index that tracks the top 30 companies listed on the Singapore Exchange.
Joanne Goh, investment strategist at DBS bank, mentioned that valuation in the Singapore market is “one of the cheapest” in the region and looking forward to see more upside for the Singapore market.