Singapore shares are expected to be lacklustre following a raft of bad news on the global economy, dealers said. The European Union announced that the 15 countries in the eurozone were in recession for the first time ever, with a 0.2 percent contraction in the second and third quarters.
The EU is a major export market for Singapore goods, and analysts have said the city-state's small and open economy is vulnerable to a worsening global economic slump.
"Equity markets are neutral for now, with about a 50-50 chance of trading lower or consolidating," Phillip Securities analyst Phua Ming Weii was quoted as saying by Dow Jones Newswires.
Phua added that "the next few trading sessions should indicate more clearly to us what the market intends to do."The Singapore government on Monday will release key trade figures for October, followed on Friday by third-quarter economic results. Preliminary data released last month showed Singapore's trade-sensitive economy declined for a second straight quarter, meaning the city-state had entered a technical recession for the first time in six years.
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