SINGAPORE (NewsRise) -- Singapore shares rose to multi-month highs, spurred by gains in heavyweight Singapore Telecommunications and as a slide in U.S. Treasury yields boosted stocks in the real estate sector.
The FTSE Straits Times index rose 0.4% at 3,079.96, the highest since late October 2016, extending its year-to-date gains to over 7%. Despite the index's strong showing since the start of the year, valuations are still attractive due to the market's underperformance in the past two years, said Terence Wong, CEO of Azure Capital, a fund management firm. The index fell over 14% in 2015 and was little changed last year.
