Singapore Stock Losses Set to Rival Greece in 2015
- Banks, commodity companies at risk from slowing China growth
- Straits Times Index's drop is almost triple the rest of Asia
People ride the escalators in a shopping mall in Singapore, Wednesday, April 08, 2009.
Photographer: Charles Pertwee/BloombergSingapore’s stocks are set for a 15 percent tumble this year, putting them in the same league as Greece. Baring Asset Management Ltd. and UBS Group AG say shares need to get even cheaper before they’re prepared to buy.
Commodity trader Noble Group Ltd. and oil-rig builder Sembcorp Marine Ltd. fell at least 46 percent in 2015 through Monday amid a raw-materials price rout, while DBS Group Holdings Ltd. has been the biggest drag on the Straits Times Index as property prices decline and bad debts increase. Among developed markets tracked by Bloomberg, the only benchmark measure that has fared worse is the ASE Index in Athens, which is poised for a 24 percent plunge.