Singapore market cap up 3.1% in March
But analysts see the momentum of the past 2 months as unsustainable, given the uncertain economic outlook
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IMPROVED sentiment helped the Singapore market to rise 3.1 per cent in March from February levels, but with the economic outlook still uncertain, analysts warn that the positive momentum of the past two months is unlikely to be sustained.
The two consecutive months of growth barely erased the deep losses in January. The total market capitalisation of the 765 companies listed on Singapore Exchange (SGX), at S$847.4 billion, is still down 14.2 per cent compared to a year ago and one per cent lower year to date. There were two gainers for every loser in March, or 437 gainers versus 213 losers.
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