New Delhi, April 13 -- At a time when increased geopolitical risks stemming from the US-Iran war are keeping not only Asian but also other major global markets under pressure, the Singapore stock market is exhibiting remarkable resilience.

The Straits Times Index (STI), the benchmark stock market index of Singapore, is near its all-time high levels. The index is flat since the US-Iran war started on February 28, compared to an over 6% fall in the Indian stock market benchmark Nifty 50 and a 1% fall in the S&P 500 for the same period.

The Singapore dollar has also outperformed several Southeast Asian peers lately, offering safe-haven appeal to investors.

The resilience of the Singaporean stock market is due to the Southeast Asian countr...