MANAMA: Asian asset prices have risen sharply, which calls for vigilance, a senior official at the city state's monetary authority said on Dec 7.

"I have not said there is an asset bubble... but we need to be vigilant. I have only said there is a very sharp increase in asset prices in Asia," Heng Swee Keat, the managing director of the Monetary Authority of Singapore, told Reuters in Bahrain.

Heng, speaking on the sidelines of a conference in the Gulf Arab kingdom, did not give further details.

Singapore announced several measures in September to cool rising housing prices. Several other Asian countries have also expressed concern about potential asset bubbles as money flows into stock and property markets. -- Reuters