7:11 PM
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Weekly wrap of STI:
Singapore shares fell for a 4th consecutive week as banking shares came under pressure over concerns the U.S. Federal Reserve may reduce its monetary stimulus programme. The Straits Times Index fell as much as 1% to 3094.86; it’s lowest since December 13.
This week STI every day opens with gap, but for overall week it opens @ 3204.39 and continuously fell lower and lower and made weekly low @ 3094.86 it was also a lowest level since December 13, after taking support at this mark STI closed @3161.43 with loss of 23.29 points down by 0.73% wow basis.
Macro Economic Factors:
Retail sales contracted 0.5% year-on-year in April, according to data released by the Department of Statistics.
Singapore's non-oil domestic exports likely edged higher in May from the previous month, helped by a tepid recovery in the city-state's electronics sector. Singapore non-oil domestic exports to a median 2.5 % from 4.0 % in March.
THE unemployment rate in Singapore stayed low at 1.9 % while fewer jobs were lost in the first quarter of this year, said the Manpower Ministry (MOM).
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