9:28 PM
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Singapore shares fell for a 2nd week to their lowest in five weeks, led by drops in interest-rate sensitive such as property stocks, as concerns about a potential rollback of the US Federal Reserve's stimulus programme weighed on the region.
Singapore snapped two months of gains as telecoms underperformed amid rising bond yields. Singapore's Straits Times Index fell 1.7 % for the month, with shares in Singapore Telecommunications Ltd leading among losers in May with a 5.3 percent fall. A spike in bond yields appeared to be the key factor behind the fall in share prices of Singapore-listed telecoms.
STI opens below 3400 mark for 2nd continuous week @ 3388.03 levels and then recovers and traded above 3400 mark again and made week high @ 3416.52. After making its high it can’t able to sustain higher levels and fell badly and took support @ 3303.11, finally closed @ 3311.37 with loss of 81.8 points down by 2.41% wow basis.
Macro Economic Factors:
Singapore rose 0.9 per cent in April from March Loans and advances by domestic banking units in the city-state amounted to S$522.3 billion (US$414.3 billion) last month, up from S$517.7 billion in March. The March figure was slightly revised from the earlier reported S$517.8 billion. From a year earlier, April bank lending rose 20 %.
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