Singapore share prices are expected to trade on a subdued note this week as investors begin to worry whether oil bills will eventually hit the corporate sector, dealers said. Fuelling the concerns is also the possibility of another hike in US interest rates, they said.
Declines in the main Straits Times index since it touched 2,399.75 points on August 3, its highest level in more than five years, reflected the concerns of investors, dealers said.
Dealers said investors have also priced in the better-than-expected second quarter economic figures which showed gross domestic product grew 5.2 percent on the year, exceeding initial estimates of 3.9 percent.
For the week to August 19, the Straits Times Index dropped 16.84 points or 0.73 percent to 2,286.36.
Average daily volume was 850 million shares worth 880 million Singapore dollars (530 million US), down from 980 million shares worth 1.18 billion dollars the week before.