Singapore Stocks Near Record High as War Fuels Haven Status

Singaporean stocks are close to reclaiming their record high, with the country’s assets seen as a haven in the face of global volatility.

Equities in the city-state have suffered the least in the region since the outbreak of the Iran war in late February sent global energy prices soaring. They’re on the cusp of being the first major Asian market to reclaim new highs since, aided by the Singapore dollar’s outperformance versus Southeast Asian peers.