SINGAPORE (May 12): The Straits Times Index has been buoyed this year by increasing investor confidence, rallying by 12.8% in the year to May 9.

Eight of the 17 constituents that have outperformed the STI are property-linked counters. They include industrial real estate investment trust Ascendas REIT, up 17.8% this year, and industrial conglomerate Keppel Corp, up 16.6%.

The second-best performer on the index is Global Logistic Properties, which has gained 33.2%.

Indeed, most of the property plays seem to have benefited from general expectations that the local property market will improve.

Property developer City Developments, the third-best performer in the index, is up 31.7%. Its property development peers are not too far behind: CapitaLand is up 23.8%; Hongkong Land Holdings, 22.3%; and UOL Group, 21.2%.

Which are the sectors that have been driving STI performance? And which have been a drag on the index?

Find out more in “Property stocks add to bank boost for STI” on page 11 of The Edge Singapore (week of May 15), available at newsstands now.