URL: https://www.moomoo.com/community/feed/113684101332998?futusource=news_headline_topnews
Gemini summarized:
The Straits Times Index (STI) has performed exceptionally well in 2024, outperforming many other markets in the Asia-Pacific region. This strong performance is primarily driven by the high dividend yields, defensive characteristics of the market, and the robust performance of banks in a high-interest-rate environment.
Among the 11 major industries in Singapore, 7 sectors have experienced gains. The industrial sector has been the top performer, rising by 15.8% year-to-date. The energy and consumer staples sectors have also seen significant growth, with increases of 14.1% and 8.1%, respectively.
The financial sector, which carries the most weight in the market, has witnessed a 3.5% rise since the start of the year. Banks, in particular, have benefited from the high-interest-rate environment, allowing them to maintain high net interest margins. As long as interest rates remain elevated, banks are expected to continue to perform well.
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