SG Morning Highlights | Singapore Aug Manufacturing Output Dives 12% Y/Y, More Than Expected

Advancers / Decliners is 47 to 83, with 87.92 million securities worth S$68.08 million changing hands.

Singapore's industrial output in August fell 12.1% year-on-year, contracting for an 11th consecutive month and more steeply than expected, mainly due to a slump in electronics, official data showed on Tuesday. Economists had expected a 3.1% year-on-year contraction in August, according to a Reuters poll. On a month-on-month and seasonally adjusted basis, industrial production fell 10.5% in August, missing economists' expectation of a 1.7% contraction.

This year's peak shipping season may be more of a plateau, said industry players, as macroeconomic conditions limit retail spending and retailers continue to hold excess inventory.“We don’t expect a classical peak-season surge in the fourth quarter, even though we foresee market improvements in the next few months,” said Niki Frank, chief executive of DHL Global Forwarding Asia-Pacific.“Since we are not ruling out a modest increase in demand during the run-up to the turn-of-year holidays, shippers should still be mindful and be prepared to cope with larger volumes towards the end of the year.”