Optimism that the worst is behind lifts October's stock market
Total market cap added S$25.5 billion or 3% to S$885.5b, reversing three months of losses
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SO MUCH for the "October effect". Halloween did little to frighten investors, it seemed, with the total market capitalisation of the stock market adding S$25.5 billion or 3 per cent over the month to S$885.5 billion, reversing losses in the past three months.
Gainers outnumbered losers 290 to 239. Blue-chips led the charge, with the market cap of Straits Times Index (STI) companies gaining S$21.6 billion or 4 per cent to S$562.7 billion. The index itself rose 3.5 per cent over the month to finish at 3229.88.
