Singapore Leads Decline in SEA Markets

Photo by Jeda Hutchison from Pexels

While most Southeast Asian markets fell yesterday (21 August), Reuters reported Singapore to lead declines, as investors waited for minutes of U.S. central bank’s July meeting.  

The markets look forward to hints about any further monetary policy easing, following global recession fears that dampened risk sentiment last week. In fact, Singapore stocks declined after two sessions of gains, with financial and industrial sectors weighing on the index. 

However, the Thai bourse climbed after data on Wednesday showed custom-cleared annual exports rose 4.28% in July from a year ago. 

“The data comes a day after Thailand’s finance ministry cut its 2019 economic growth forecast to 3.0% from the 3.8% it projected in April; due to falling exports,” the report said.

Written by

Cheryl Toh

Last updated on

August 22nd 2019, 1:35 pm

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