Singapore's stock market tipped to grow 10 percent next year
The Straits Times/Asia News Network
December 14, 2010, 10:56 pm TWN
SINGAPORE -- Singapore's stock market could jump by 10 percent or more next year, powered by a strong Singapore dollar, low interest rates and growing consumption in Asia, according to analysts. This would be a welcome boon to investors, who have recently faced worries such as rising tensions on the Korean peninsula, economic cooling measures in China and the ongoing eurozone sovereign debt crisis.
These various concerns have dragged the benchmark Straits Times Index (STI) down from its year-to-date high of 3,313.61 points, which it touched on Nov. 9. Despite these sobering events, however, analysts from Nomura and UBS are optimistic that the bourse will charge ahead to a high of 3,600 next year.