Singapore’s Straits Times Index hasn’t had a year like this in over a decade. As 2024 comes to a close, the index is poised to be Southeast Asia’s best-performing stock market index.
The STI, which tracks the 30 largest companies by market value traded on Singapore’s stock exchange, is up 15% for the year. The index also touched 3842 in the first week of December marking a 17-year-high, and close to its all-time high of 3906 in 2007. Like most markets, the STI has slipped following the U.S. Federal Reserves' comments after delivering a 25 basis point rate cut on Dec. 18.
