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Market Chatter: Singapore Now Southeast Asia's Largest Stock Market

MT Newswires05-20

Singapore has overtaken Indonesia as Southeast Asia's largest stock market, with market capitalization jumping to $645 billion, according to a report by Bloomberg News on Wednesday.

Meanwhile, Indonesia's market capitalization fell by over 30% from a peak in January to $618 billion, the report added.

The Straits Times Index growth has been driven by government initiatives, with more funds flowing into the market, the report said.

According to a portfolio manager at Lion Global Investors, Kenneth Ong, Singapore's market has taken advantage of geopolitical uncertainty and has become a safe haven for the financial sector, the report noted.

During March, foreign deposits in the city-state's banks rose to SG$659 billion, according to data compiled by Bloomberg.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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