Singapore stocks lose 2.7% of value in September; STI sees another monthly decline

Singapore

THE market capitalisation of Singapore-listed stocks fell 2.7 per cent month-on-month (m-o-m) in September - to S$739.9 billion - weighed down by Catalist-listed counters.

The total market value of Catalist-listed stocks fell 5.9 per cent m-o-m from S$11 billion to S$10.4 billion, while the market value of mainboard-listed stocks slipped 2.7 per cent from S$749.4 billion in August to S$729.5 billion in September.

Of the total 696 counters on the Singapore Exchange (SGX), losers outnumbered gainers 359 to 177.

The benchmark Straits Times Index (STI) saw its market capitalisation dip for the third straight month, declining 3 per cent from S$445.6 billion to S$432.1 billion.

Stephen Innes, chief global market strategist at AxiCorp, said the weak performance comes as a result of the SGX not offering up the "technology powerhouses" that other bourses in North Asia such as China, Korea…