Singapore market cap down 3% in November, as Omicron infects investor sentiment

THE total value of Singapore stocks was weighed down in November by fears of the more infectious and vaccine-resistant Omicron Covid-19 variant, which derailed hopes of a sustained recovery after snapping a 3-month losing streak in the previous month.

Going by data compiled by The Business Times, the combined market capitalisation of the 665 companies listed here fell 3 per cent to S$847.2 billion as at Nov 30, from S$873.6 billion as at end-October.

This was the largest monthly drop in total market capitalisation since the 3.9 per cent decline in April this year.