Shields up: Singapore defends against market volatility with 7.7% YTD gain

Thanks to the renewal of interest in the Singapore market.

The Singapore market continues to stay strong with a year-to-date (YTD) gain of 7.7%, according to a report from OCBC.

This is despite the possible defaults and regulatory concern in China. Losses were felt in Asia and the US.

Trading volume and activities were also recorded as having the best performance in the past four years.

Bloomberg reported that Temasek Holding’s interest in Singapore and regional mid-cap firms. This, along with the Singapore Exchange’s outlining of rules for the listing of Special Purpose Acquisition Company, has the potential to stem the decline in IPOs.

Valuations are also currently not demanding and are more enticing compared to other regional markets.

“At current valuations, the STI is trading at a price-earnings ratio of 12.4x and price-book of 1.0x, with an attractive estimated dividend yield of 4.4%. Most Singapore sectors are up for the year. Based on PER, the STI is currently trading below the 10-year historical average. In terms of price-book, it is also at below 10-year average. With optimism over the gradual re-opening of the economy, earnings have also been revised up. In addition, Singapore valuations are attractive versus other regional markets.”

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