Singapore’s market cap down 4.3% in February amid earnings hit, persistent inflation worries

THE total value of Singapore stocks declined in February, as investors remain cautious about inflation amid the full swing of the corporate earnings season.

Total market capitalisation of the 632 stocks listed on the Singapore Exchange (SGX) fell 4.3 per cent to S$815.3 billion as at Feb 28, from S$852.2 billion as at end-January, data compiled by The Business Times showed.

Thilan Wickramasinghe, head of research at Maybank, noted that continued cooling measures by the Federal Reserve and regional central banks likely drove up investor caution, resulting in pressures at the macroeconomic level.