Singapore shares edge lower on Wednesday
Singapore stocks struggled to advance on Wednesday (Nov 22), as pullbacks on Wall Street and Europe clashed with the Singapore trade ministry’s expectations that economic growth would come in at around 1 per cent.
The growth outlook hits the midpoint of the gross domestic product forecast range that the Ministry of Trade and Industry had earlier expected.
$FTSE Singapore Straits Time Index(.STI.SG$ was down 0.1 per cent or 1.97 points to 3,094.37 as at 9.03 am. Across the broader market, losers outnumbered gainers 67 to 48, after 33.7 million securities worth S$53.2 million changed hands.
The most active counter by volume was $YZJ Shipbldg SGD(BS6.SG$ , which lost 0.7 per cent or S$0.01 to S$1.45, with 5.1 million shares traded.
Other heavily traded securities included $Suntec Reit(T82U.SG$ , which shed 0.9 per cent or S$0.01 to S$1.14, and $Singtel(Z74.SG$ , which rose 0.4 per cent or S$0.01 to S$2.26.
Wall Street stocks retreated on Tuesday following mixed results from retailers. $Dow Jones Industrial Average(.DJI.US$ ended down 0.2 per cent at 35,088.29. $S&P 500 Index(.SPX.US$ slipped 0.2 per cent to 4,538.19, while $Nasdaq Composite Index(.IXIC.US$ fell 0.6 per cent to 14,199.98.
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