Arms raised, STI staggers past 3,400-point finish

THESE are heady times for global stock markets. After trading for the year ended on Dec 29, 2017, Singapore's benchmark Straits Times Index (STI) closed at 3,402.92 points, up a spectacular 18 per cent from the end-2016 close of 2,880.76 points.

The STI's performance nevertheless pales in comparison with that of its neighbours. Hong Kong's Hang Seng Index is notably up 36 per cent, thanks to index heavyweights Tencent and Ping An Insurance more than doubling in value. India's stock markets are up nearly 30 per cent, while Vietnam is up almost 50 per cent.

Across the world, investors are celebrating. Even the US market, which many have said were looking rich, had a banner year. US indices are up anywhere from 20 to 30 per cent. With the US dollar weakening against many other currencies, US-dollar based investors did well wherever they kept their assets.