Reversal of policy risks lifts market in January
Total market cap expands by S$27 billion or 3% to S$919.4 billion, after December's 1.4% decline
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Singapore
CALL it the "Capricorn Effect". January's stock market performance improved from December, as the total market capitalisation of companies listed on the Singapore Exchange expanded by S$27 billion or 3 per cent to S$919.4 billion.
This came after a 1.4 per cent decline in December. Explaining this January effect, Tan Chin Poh, an analyst at Maybank Kim Eng's retail research department, said: "January is typically the best month of the year. Maybank Kim Eng's analysis of the Straits Times Index (STI) over the past 55 years shows that the STI has a 75 per cent chance of gain over December, with a mean return of 3.4 per cent."
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