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Singapore stocks lag Asia recovery as banks extend losses

Equities in emerging Asia edged higher on Friday after a selloff in the previous session, while Singapore stocks hovered near 3-month lows as banks remained under pressure on concerns over corporate earnings and the impact from higher bond yields.

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新加坡股市复苏滞后于亚洲其他地区的步伐,银行股持续下跌

Signage for the SGX Centre, which houses the Singapore Exchange Ltd. (SGX) headquarters, stands in Singapore, on Friday, April 27, 2018. — Photographer: Paul Miller/Bloomberg

Equities in emerging Asia edged higher on Friday after a selloff in the previous session, while Singapore stocks hovered near 3-month lows as banks remained under pressure on concerns over corporate earnings and the impact from higher bond yields.

The MSCI EM Asia equities index edged 0.2% higher after losing nearly 2% on Thursday. Markets in South Korea and Taiwan, which together account for more than half of the index, were closed for national holidays.

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