Singapore30 Near 12 Month High

Singapore stocks are trading at their highest level in almost a year and having lagged regional peers, analysts say the market now has the potential to gain the upper hand.

The benchmark Straits Times Index has climbed almost 12 percent since hitting its lowest level in more than a year in early February. Last Thursday, the market rose to its highest level in almost a year, boosted in part by merger and acquisition activity.

Last week, a unit of Chinese e-commerce giant Alibaba announced plans to buy a minority stake in Singapore Post for $249 million to help set up an global e-commerce logistics business. That news boosted SingPost shares to a record high.


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