Singapore’s equity benchmark has erased losses accrued during the pandemic thanks to the nation’s policy of living with the virus and a global rotation toward value stocks.
The cyclicals-heavy Straits Times Index has been hovering close to its January 2020 high of 3,281.03 since Friday. The gauge has risen 5% this year with lenders such as United Overseas Bank Ltd. and restructured firms such as Sembcorp Industries Ltd. among the leading gainers over that period.
