Singapore shares are likely to remain weak as the economic outlook continues to be negative, analysts said on Friday. "There's a bleak outlook for the next few months... the question is whether we are at the worst point now or if the worst is still to come. To be honest, nobody knows," said a trader at a local brokerage.
The main Straits Times Index (STI) was virtually unchanged from a week ago, closing Friday at 1,594.87, down 0.07 points from the previous week. Average volume was 993 million shares worth 853.2 million dollars (552 million US), compared with 752 million shares worth 737 million dollars the week before.
Data released Thursday showed the economy shrank 4.2 percent in the fourth quarter ended December, worse than the initial estimate of a 3.7 percent decline while growth in 2008 came to 1.1 percent, below the earlier projection of 1.2 percent.
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