Singapore’s June market cap down 2.2% as banks’ values shrink and STI falls 4%

THE total market capitalisation of Singapore stocks fell 2.2 per cent to S$861.4 billion in June, led by UOB, which shed S$5.5 billion in value to close the month at S$44.26 billion, followed by Jardine Matheson Holdings (JMH), which lost S$4.88 billion.

The two other local banks, DBS and OCBC, are the third and fourth biggest losers, chalking up sizeable losses amounting to S$3.25 billion and S$1.99 billion respectively.

With the trio of banks and JMH leading losses, Straits Times Index constituents’ total market capitalisation fell by 4 per cent, losing S$21.3 billion to finish the month at S$514 billion. The total value of companies listed on the Mainboard fell 2.2 per cent to S$851.8 billion.