Singapore, Singapore Stocks, Straits Times Index

Singapore, Singapore Stocks

Singapore shares edge up at open despite Q2 GDP plunge; STI up 0.3%

#Singapore shares edge up at open despite Q2 GDP plunge; STI up 0.3%

11/8/2020 5:01:00 AM

Singapore shares edge up at open despite Q2 GDP plunge; STI up 0.3%

SINGAPORE shares opened slightly stronger on Tuesday, despite second-quarter gross domestic product plunging 13.2 per cent in its worst quarter on record. Read more at The Business Times.

, in a twist that that caught many off-guard.Banking stocks were up in the morning session while trading on a cum-dividend basis. DBS gained S$0.06 or 0.3 per cent to S$20.66, United Overseas Bank added S$0.02 or 0.1 per cent to S$19.60 and OCBC Bank advanced S$0.06 or 0.7 per cent to S$8.78.

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Other active securities included Vicplas International which shot up S$0.05 or 12.8 per cent to S$0.44, while Venture Corp gained S$0.56 or 3 per cent to S$19.40.Mainboard-listed Venture has, up from S$0.20 a year earlier, despite a 28.2 per cent fall in its net profit to S$130.5 million for the six months ended June.

Over in the US,Wall Street ended mixed on Mondayas investors eye uncertain data and an elusive deal on further economic stimulus.At the closing bell, the tech-rich Nasdaq was down 0.4 per cent to 10,968.36, but the Dow Jones Industrial Average gained 1.3 per cent to end at 27,791.44 and the broad-based S&P 500 rose 0.3 per cent to finish at 3,360.47. headtopics.com

, with the European Stoxx 600 index closing the session up 0.3 per cent. This comes after growth-sensitive cyclical stocks got a boost from improving economic data out of China, though renewed US-China tensions hit technology shares.Elsewhere in Asia,

tracking Wall Street gains. The benchmark Nikkei 225 index climbed 0.8 per cent, while the broader Topix index rose 0.9 per cent in early trade.BT is now on Telegram! Read more: The Business Times »

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Singapore Q2 GDP plunges by 13.2% in worst quarter on recordSINGAPORE’S second-quarter economic performance was its worst on record, while the full-year outlook was cut again, policymakers announced on Tuesday morning. Read more at The Business Times.

Singapore lowers 2020 GDP forecast to between -5% and -7% as Q2 sees worse-than-estimated 13.2% plunge Singapore may suffer a deeper recession this year than earlier estimated due to the coronavirus-induced economic slump at home and abroad.. Read more at straitstimes.com.

Singapore's exports down 15.2% in Q2 2020, forecasts adjusted upwardsSINGAPORE: Total merchandise trade in Singapore declined by 15.2 per cent in the second quarter of 2020, following a slight growth of 0.5 per cent ...

Singapore’s economy shrinks 13.2% in Q2, as country enters worst recession in 55 yearsSINGAPORE — The Government has downgraded Singapore ’s growth forecast for 2020 as the country enters into its worst recession since independence.

Singapore's total merchandise trade falls 15.2% in Q2, decline in both oil and non-oil tradeSINGAPORE - Singapore 's total merchandise trade decreased by 15.2 per cent in the second quarter of 2020 compared to a year ago, with declines in both oil and non-oil trade.. Read more at straitstimes.com.

Saudi Aramco's Q2 net profit plunges 73.4% on lower oil prices[DUBAI] Saudi state oil group Aramco on Sunday reported a 73.4 per cent fall in second-quarter net profit, a steeper drop than analysts had forecast, and said it expected capital expenditure for 2020 to be at the lower end of a US$25 billion to US$30 billion range. Read more at The Business Times.