Asian Stocks Rise, Singapore Index Hits Record High

On Friday, most Asian emerging markets saw stock prices rise, with the Singapore Straits Times Index reaching a record high. Comments from Federal Reserve Governor Christopher Waller led investors to lower their bets on a rate hike in September. The MSCI Emerging Asia Stock Index rose by 1.4%, poised for its best single-day performance in nearly seven trading days. The Singapore Straits Times Index briefly climbed 0.9% to a historic high of 5807.16 points, led by blue-chip bank stocks. This week, the index has accumulated a 1.9% increase, on track for its best weekly performance since early July. Boosted by this, the MSCI ASEAN Index rose to a near seven-day high, up 1% so far this week.