Singapore June market cap unscathed as late rebound recoups lost ground

Singapore

DESPITE the rough ride over Brexit jitters, the Singapore market emerged from the month of June on a firm note thanks to the strong rebound that followed two days of battering after Britain voted to leave the European Union.

The comeback saw the local market recoup lost ground - June's market capitalisation for the 759 Singapore-listed companies actually inched up 0.3 per cent to S$848.3 billion from end-May.

Although some observers saw this as investors buying into the local bourse's defensive reputation, the rebound came as global stock markets staged recovery on expectations of …