Professional Documents
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WB2 - Singapore
WB2 - Singapore
WB2 - Singapore
2. Economics: SINGAPORE'S non-oil domestic exports (NODX) fell 20.2 percent year on year in July, worse than the 15.6% drop in
June, according to Enterprise Singapore (EnterpriseSG) data released on Thursday (Aug 17).The month's key exports drop exceeded the
median 14.3 percent drop forecast by economists in a Bloomberg poll, marking the tenth consecutive month of decline.Exports of both
electronics and non-electronics have continued to fall year on year. The month also saw the steepest drop since January 2023, when it fell
25%. In summary, the paragraph describes the poor performance of Singapore's non-oil domestic exports in July. The decline is more
substantial than predicted by economists and has continued for ten consecutive months. Both electronics and non-electronics exports
have been affected, and the current month's decline is particularly severe, resembling a downturn observed earlier in January 2023.
3. Market: Singapore and China’s eastern Zhejiang province are setting up a new work group that will promote the
flow of data across the two markets and facilitate investment and research collaborations between their digital
economy enterprises. Singapore stocks ended the week in the red. Concerns about interest rates sent the Straits
Times Index down 22.82 points, or 0.7%, to 3,173.93. Regional indexes also fell. Singapore Post rose 3.1% to 50
cents in the broader market after reporting first-quarter operating profit rose 11.8% to $11.9 million. Banks fell
again: DBS fell 0.2% to $32.72, UOB fell 0.6% to $27.93, and OCBC fell 0.3% to $12.27. Therefore, interest rates
are kept high for a long time and drive bond yields. This affects quite a lot the markets of countries. In summary,
the paragraph discusses the collaborative efforts between Singapore and China's Zhejiang province in the digital
economy sector. It also highlights the negative performance of Singapore's stock market, attributed to concerns
about interest rates. Additionally, it touches on stock movements and the broader impact of high interest rates on
various countries' markets.
4. Stock: Singapore stocks ended the week in the red on Friday (Aug 18), booking declines for the sixth straight session: The benchmark
Straits Times Index retreated 22.82 or 0.7 percent to 3,173.93. Losers outnumbered gainers 372 to 246 in the broader market, as 1.2
billion securities worth S$1.1 billion were traded on the Singapore Exchange. Many experts say the rise in yields has raised concerns
about stocks and other risky assets. The currency crisis in the US caused the Fed to keep interest rates high, affecting the entire global
business. Singapore stocks have another week in the red. Many experts say the rise in yields has raised concerns about stocks and
other risky assets. The currency crisis in the US caused the Fed to keep interest rates high, affecting the entire global business. In
essence, this news paints a picture of a struggling Singapore stock market, which is characterized by persistent declines and trading
activity. It also highlights broader economic factors contributing to these market conditions, including rising output and a global currency
crisis.
SINGAPORE
CNY / SGD
5.45
5.40
5.35
5.30
5.25
5.20
5.15
5.10
5.05
4/29/2023 5/29/2023 6/29/2023 7/29/2023
6.00
JPY / USD
5.80
5.60
5.40
4/29/2023 5/29/2023 6/29/2023 7/29/2023