Singapore stocks fall at Friday’s open as export figures contract
Singapore shares declined in early trade on Friday (Feb 17) after the Republic’s non-oil domestic exports posted worse-than-expected performance and the US market reported losses amid interest rate concerns.
Key Singapore exports tumbled 25 per cent from a high year-ago base, deepening from December 2022’s 20.6 per cent decline on the year. This far outstripped the median 21.9 per cent decline forecast by economists in a Bloomberg poll.
$FTSE Singapore Straits Time Index (.STI.SG)$ fell 0.2 per cent or 8.09 points to 3,303.14 as at 9.01 am.
An actively traded stock in terms of volume was $Singtel (Z74.SG)$ , with 2.4 million shares transacted on Friday morning. The telecommunications company was down 0.4 per cent or S$0.01 at S$2.46.
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