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Market cap of Singapore stocks dips 0.4% in December as investors turn cautious

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Tay Peck Gek

Tay Peck Gek

Published Tue, Jan 3, 2023 · 05:41 PM
    • All three banks returned negatively in the month. DBS’ market cap loss of S$3.3b made it the top loser, but it was still the most valuable stock in Singapore with a market value of S$87.6b.
    • Market cap of Thai Beverage was up S$1.3 billion in December.
    • All three banks returned negatively in the month. DBS’ market cap loss of S$3.3b made it the top loser, but it was still the most valuable stock in Singapore with a market value of S$87.6b. PHOTO: ST FILE
    • Market cap of Thai Beverage was up S$1.3 billion in December. PHOTO: BLOOMBERG

    CONSUMER counters and those capitalising on China’s reopening were the top performers in December, but the last month of the year registered a 0.4 per cent dip in market capitalisation for Singapore stocks to S$827.1 billion.

    Jardine Matheson Holdings (JMH) , Hongkong Land and their sister stock DFI Retail Group took three positions in the top 10 gainers tally for December, with JMH’s market value jumping S$1.6 billion to S$51.8 billion.

    Paul Chew, head of research at Phillip Securities, said market direction for December was dictated by the relaxation of pandemic restrictions by mainland China and Hong Kong.

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