Daily Briefing: Singapore houses third most number of billionaires in Asia; Will Singapore stock prices drop in December?

And check out increasing investments in the fintech sector.

Singapore is home to 37 billionaires, making it the third country with the most billionaires in the Asia-Pacific region and sixth globally, reported AsiaOne citing Wealth-X and CNBC. Around 1.5% of the 2,473 billionaires worldwide live in the city-state. Check out this story here.

In the United States, the January Effect suggests that there will generally be a drop in price in December before stock prices increase during the month of January the following year. One possible explanation is that investors are selling off securities that had incurred a loss for the year in order to offset taxes on their gains and income. This is known as tax-loss harvesting.Will it be applicable to Singapore? Click here to find out.

The financial technology sector has been gaining traction now in Singapore, with investments pouring in at a rapid pace. Singapore has recognised the immense potential that fintechs hold. A number of initiatives have been launched in the country to give new companies an opportunity to make their ideas a reality. Click here to know more about the story.