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S'pore stocks fall after IMF cuts global growth forecasts

Published on Oct 9, 2012 7:29 PM

SINGAPORE stocks dipped on Tuesday after the International Monetary Fund (IMF) cut its forecasts for global growth for both this year and next.

The benchmark Straits Times Index lost 10.74 points, or 0.35 per cent, to close at 3,065.91 points.

The IMF today cited weaker prospects and increased risks as it cut its estimate for this year's global growth to 3.3 per cent, from its earlier projection of 3.5 per cent. The forecast for next year was reduced to 3.6 per cent from 3.9 per cent.

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