Singapore shares jumped to a 17-year high on Tuesday, powered by a rally in index heavyweight financials, as the city-state ramps up efforts to revive its stock market.
In August, the Monetary Authority of Singapore said it had formed a review group to recommend steps to strengthen the development of the equities market in the island country, which hosts more than $4 trillion of assets under management. On Monday, Thailand reported better-than-expected economic growth for the July-September period, although rising government spending and slowing private consumption remain a concern.
"Considering uncertainty surrounding the growth outlook, the still elevated real policy rate, and weak credit growth, it is too early to rule out further monetary policy easing in 2025," ANZ analysts said in a note.