SG Morning Highlights | Decline in Singapore Key Exports Continues to Ease in October, with Narrowing 3.4% Fall

Advancers / Decliners is 54 to 77, with 40.47 million securities worth S$53.30 million changing hands.

Singapore's non-oil domestic exports (NODX) shrank 3.4 per cent year on year in October, continuing to ease from steeper falls in the preceding months, data from Enterprise Singapore (EnterpriseSG) showed on Friday (Nov 17). The October figure marked an easing from September's 13.2 per cent fall, and was also better than the 6 per cent contraction that private-sector economists polled by Bloomberg were expecting. Both electronics and non-electronics exports continued to fall on a year-on-year basis, but less sharply. On a month-on-month seasonally adjusted basis, NODX grew 3.4 per cent in October, extending the previous month's 11.1 per cent growth, as both electronics and non-electronics exports rose.

The Monetary Authority of Singapore (MAS) is pushing ahead with plans to explore the potential of issuing and using digital money here. The central bank on Thursday (Nov 16) published a blueprint outlining the infrastructure required for a digital Singapore dollar, and announced that it will be expanding trials on digital money. MAS will also issue a “live” central bank digital currency (CBDC) for wholesale settlement, with plans to start developing CBDCs for wholesale interbank settlement next year.