STI jumps over 18 points over Wall St gains, China stimulus hopes
Singapore shares staged a very modest rebound on Wall Street gains overnight and hopes that China may introduce another round of stimulus measures.
The benchmark Straits Times Index managed to cling to the key 3,300-point support. It jumped as much as 18.11 points to 3,318.53 at the opening yesterday, before closing at 3,300.96, up just 0.54 point, and down 1.6 per cent for the week.
Singapore May consumer prices seen falling for 7th straight month: poll
Singapore's consumer price index in May probably fell from a year earlier for a seventh straight month, a Reuters poll showed, likely dragged down by lower housing costs.
The all-items consumer price index (CPI) was seen falling 0.5 per cent from a year earlier, according to the median forecast in a Reuters survey of 10 economists.
Chinese stock markets have worst week since global financial crisis
China's major stock indexes finished the week on a grim note on Friday, with the Shanghai index ending the week down 13.3 per cent, its worst showing since the global financial crisis.
Many analysts had warned that Chinese bourses had become too frothy since their run-up in November, with some companies trading at 200 or 300 times earnings amid incredible volatility.
Greece teeters on the brink of a debt default: What happens if it falls?
If there is no deal with eurozone partners to secure the final €7.2 billion slice of its €320 billion (S$480 billion) bailout, Greece could default on its loans. This could come on June 30, or best-case scenario, stretch out into July. A default could push the Greek government towards leaving the single currency, a prospect that has become known as Grexit.
But while some things about the Greek crisis remain the same from 2009, others have changed. Just how important is Greece today to the world economy - and would it still matter if it defaulted?
Malaysian central bank issues rare statement to cool political noise on ringgit
Malaysia's central bank sought to depoliticize the debate over the weakening ringgit, releasing a rare statement urging the country to resolve domestic issues that have affected the currency.
Referring to "recent inaccurate and misleading media reports" on the central bank and the ringgit's volatility, Bank Negara Malaysia said it won't be drawn into any political agenda and remains focused on maintaining monetary and financial stability.