STI posts 5-day winning streak on string of upbeat macro data

SINGAPORE shares posted their fifth straight day of gains on Monday, with the Straits Times Index (STI) closing 36.7 points or 1.4 per cent higher at 2,689.61, in tandem with buoyant markets in the region.

The rise was led by renewed feel-good factor after a slew of upbeat data signalled that things could be turning around for the world, despite the still cloudy economic picture and as Covid-19 infections hit record high globally.

Analysts warn that the rally is driven by liquidity rather than fundamentals and risk aversion could shatter the bubble if fundamentals fail to catch up or generous fiscal and monetary interventions wane.