Here’s why the Singapore market has been Asia’s worst performer this year

Consensus earnings growth stands at -5.9%.

The little red dot has been the most worst performing market in Asia this year so far, headlined by its alarming economic growth.

According to a report by DBS, among other reasons why the Singapore market has been slowly losing its lustre include weak oil & gas industry imposing on employment and the services sector, cautious financial sector, and weak property market.

“Consensus earnings growth for MSCI Singapore stands at -5.9% this year, after falling 4.4% last year, and only 4.3% for next year,” the report noted.
Meanwhile, earnings recession is likely to be prolonged for the city-state, with GDP growth for next year at 1.9%, only 0.4% higher than this year’s 1.5%.