01 Sep '13, 4pm

Singapore Stocks Worst in Developed World: Southeast Asia - Bloomberg

Singapore Stocks Worst in Developed World: Southeast Asia - 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. Stocks in Southeast Asia sank faster than global equities on signs regional economic growth is slowing and as Federal Reserve policy makers prepare to reduce U.S. bond buying that had prompted investors to buy riskier assets. Investors pulled $2.2 billion from Thailand , Ind...

Full article: http://www.bloomberg.com/news/2013-09-01/singapore-stocks...

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