Singapore Stock Market Becomes Southeast Asia's Largest by Market Cap, Driven by Safe-Haven Inflows
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Bloomberg reports Singapore's stock market has surpassed Indonesia's to become the largest in Southeast Asia with a market capitalization of $645 billion. Analysts attribute this to inflows of safe-haven funds driven by global uncertainties like the Middle East conflict. Singapore's stable political and economic environment, strong rule of law, and clear tax system are attracting high-net-worth families, boosting the banking sector's wealth management business and overall profitability. Data from the Monetary Authority of Singapore shows a significant increase in non-bank customer deposits in March, confirming the trend of capital inflows.