Jardine group shares listed in Singapore lost a combined market value of about US$5 billion ($6.72 billion) in August, according to data compiled by Bloomberg. The slide marks a return to the losses seen last year amid the global pandemic selloff.
Jardine Matheson Holdings Ltd. group stocks have turned from some of Singapore’s best performers to the worst this year amid a resurgence of coronavirus infections in Southeast Asia.
Shares of the venerable trading firm, which gets more than half of its annual revenue from Southeast Asia, dropped 8.6% last month, ranking it among the worst performers on the Straits Times Index. Concerns over the delta variant have punctuated a stark turnaround for the stock, which had surged 25% in March on a restructuring plan.
