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Singapore stocks post biggest gain in five months on hopes of a Biden win

Bloomberg
Bloomberg11/3/2020 10:08 PM GMT+08  • 2 min read
Singapore stocks post biggest gain in five months on hopes of a Biden win
The Straits Times Index closed up 2.2%, its biggest rise in five months, and climbed the most among all major indexes in APAC.
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One of Asia’s worst-performing stock markets got some respite on Tuesday ahead of the US presidential poll as investors gear up for a Biden win.

The Straits Times Index closed up 2.2%, its biggest rise in five months, and climbed the most among all major indexes in Asia Pacific. All 30 stocks were in the green, with industrials, property and banking shares among the top gainers as investors bought into the gauge dominated by old-economy sectors.

“All polls are predicting a Biden win so this is investors positioning themselves” in beaten-down shares, said Joel Ng, analyst at KGI Securities (Singapore) Pte.

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