The Straits Times Index gained 1.1% to 2,719.83, the highest close since Dec. 8. Eight shares rose for each that fell in the 30-member gauge.
Singapore’s stock-market valuations are “pretty cheap”, said Garry Evans, head of global equity strategy at HSBC Holdings Plc, at a briefing in Singapore.
Shares on the benchmark Straits Times Index are trading at 1.2 times estimated book value, compared with 1.5 times for the MSCI Asia Pacific Excluding Japan Index.
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