Expectations of strong earnings power STI past 3,500 points

Singapore

POWERED by expectations of higher corporate earnings, Singapore's benchmark Straits Times Index (STI) has returned to rarefied levels of more than 3,500 points.

Thursday's close of 3,501.16 points means the STI has added nearly 100 points in the first three days of the year.

The market traded above the 3,500-point mark only for a few days in April 2015, and before that, only for some months in 2007.

Kenneth Tang, senior portfolio manager at Nikko Asset Management, told The Business Times that market optimism stems from the …