Excerpts from The Malaysian Insider:

SINGAPORE, Jan 1 — If there has ever been a year investors would like to forget, the slow motion train wreck of 2008 must surely be it.

It has been 12 months of unprecedented carnage, with the Straits Times Index (STI) plunging 50 per cent to 1,761.56 — the biggest annual fall in its 42-year history.

Massive sell-offs and fund redemptions wiped out almost S$400 billion (RM960 billion) from the combined market value of the 783 companies listed here.

The total value of shares of those firms at the market close yesterday was S$393.04 billion — less than half the S$790.3 billion on Dec 31, 2007, and the lowest since the end of 2004, where it stood at S$360.7 billion.

Much of the damage was done in October, when S$123 billion of value disappeared into thin air.


Notify of
Inline Feedbacks
View all comments
You May Also Like

We’ll adopt “light touch” approach for online videos : MDA

From Singapore Rebel The Media Development Authority (MDA) has replied to my…

“That is what we are elected to do” – MP Josephine Teo

By Andrew Loh In a letter to the Straits Times Forum Page…

Changing lives through football

New Hope Community Services launches S’pore’s first football team for the homeless.

Life savings – gone

We spent our whole lives working for this country, and now our…