Dear readers, today is a historic moment in Singapore history as Deputy Prime Minister Lawrence Wong will be sworn in as Singapore’s 4th Prime Minister later tonight.
I thought of writing a post that befits this historic and significant moment in Singapore’s history and thought it may be interesting to take a look at just how much the Singapore stocks market has changed during the tenure of Prime Minister Lee (at this time in writing).
Mr Lee took office as Prime Minister in Aug 2004 and back then, the benchmark indicator of Singapore stocks markets, the Straits Times Index (STI) was at around 1,920. Fast forward to May 2024 hitherto, the STI is at around 3,300. Hence we can see that the Singapore stock markets has grown by more than 70% during Prime Minister Lee’s tenure as Prime Minister.
The Straits Times Index has been a credible defensive stock market index all these decades. And amidst the defensiveness, we see that the index has grown reasonably well during Mr Lee’s tenure as Prime Minister.