Singapore’s market cap up 2.5% in July as investors shrug off inflation, recession fears
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Uma Devi
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DESPITE rising inflationary pressures and threats of a global recession, the total value of Singapore stocks advanced in July. Outperformers included stable blue chips, market watchers said, as investors sought safe havens.
The total market capitalisation of the 650 counters listed on the Singapore Exchange (SGX) rose by 2.5 per cent or S$21.2 billion month on month (m-o-m) — to S$882.7 billion at end-July from S$861.4 billion at end-June. Nevertheless, losers outnumbered gainers 252 to 228.
Blue-chip counters led the increase in value. The combined value of the 30 Straits Times Index (STI) stocks was up 4 per cent, or S$20.4 billion, to S$534.5 billion.
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