Singapore shares likely to trade in narrow range

Singapore share prices are forecast to trade in a narrow range next week as investors wait for clear signals on the US central bank's next move on interest rates, dealers said. Until then, investors are taking a "wait-and-see" approach, they said.
"Investors are looking for firm indications on US interest rate policy but so far, we are getting only weak indications," a dealer with a local brokerage said.
The release of US non-farm payroll data on Friday should provide further clues on whether the US economy has slowed enough for the Federal Reserve to keep rates on hold.
"Trading is likely to remain within a narrow range next week," another local brokerage dealer said.
For the week ending September 1, the Straits Times Index advanced 38.28 points, or 1.56 percent, to finish at 2,491.49.
Average daily volume totalled 944.36 million shares worth 920 million Singapore dollars (586 million US), compared with 953.95 million shares valued at 953.79 million Singapore dollars the previous week.