What happened?
The past year has been marked by sharp falls in global equity markets as investors face an uncertain economic outlook amidst a higher interest rate environment. If you were investing in the S&P 500, you would potentially be facing losses of close to 20%. Amidst the pessimism, investors in the Singapore market have more to cheer about. The Straits Times Index (STI) has outperformed all global stock benchmarks in total returns generated (inclusive of dividends and in US Dollars) The STI saw a USD total return of 7% for 2022 (year-to-date till 16 December), far outperforming most other global indices. In fact, there were some stocks in the STI which saw gains of close to 84%! Let’s take a look at what are these stocks driving the strong performance of the STI. <img src="https://growbeansprout.com/strapi-uploads/image_ac4ed9d74e.png" alt="Chart Description automatically generated">
Source: Refinitv, Bloomberg, Yahoo Finance (Data as of 16 Dec 2022)...
