Singapore stocks are the worst performers among developed markets
Index tumbled 7.5% in 10 days.
According to a report by Bloomberg, Singapore stocks tumbled by the most among developed markets last month as investors pulled cash from Southeast Asia on concern about the future of global stimulus.
Singapore’s Straits Times Index, the benchmark gauge for the region’s biggest market, dropped 7.5 percent in the 10 days through Aug. 28, its longest losing streak since 2002. The gauge slumped 6 percent in August, the worst performance among the world’s developed equity markets. Jardine Cycle & Carriage Ltd., the largest shareholder of Indonesia’s PT Astra International (ASII), and commodities trader Olam International Ltd. led declines.
Read full report here.