STI posts longest winning streak since December 2014

It climbed to as high as 2.4%.

Singapore's Straits Times Index climbed 2.4% to 2,928.58 on December 1, making it the seventh-best performer globally according to a report from Bloomberg.

The gauge has risen for eight straight days, the longest stretch of gains since December 2014. It is also still one of Asia’s cheapest stock markets, as the Straits Times Index trades at 12.4 times reported earnings, the lowest in the region after Pakistan as investors remain cautious about further gains.

UBS Group AG regional chief investment officer Kelvin Tay predicts any advance beyond the 3,000 level may be limited. “At this point in time, there are no real catalysts to change that," he said.

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