Local shares remained in the red on Tuesday, after another tepid session where investors mostly stayed on the sideline to avoid uncertainties piling up on both the domestic and foreign end.
New private home sales stagnated again last month as potential buyers were put off by the Hungry Ghost Festival, which started in the middle of the month, and distracted by SG50 festivities as well.
Singapore's retail sales grew in July but a smaller rate from the previous month as auto sales slowed, figures from the Department of Statistics showed Tuesday (Sept 15). Retail sales grew 5.2 per cent year-on-year in July, down from the previous month's 6.2 per cent increase.
Singapore is still the top Asean investment pick for four of the world's biggest economies - China, India, Japan, and the US - according to the Institute of Chartered Accountants in England and Wales (ICAEW).
The Singapore Exchange (SGX) has set up three independent listing committees in a move to strengthen the listing regulatory process. A new Listings Advisory Committee (LAC), Listings Disciplinary Committee (LDC) and Listings Appeals Committee (LApC) will be in place by October 7, the SGX said in a statement Tuesday.
Singapore regulators have been involved in talks to allow cross-border selling of mutual funds and unit trusts across Asia Pacific, but the lack of a fair taxation arrangement is now proving to be a stumbling block.
China cranked up its fiscal spending by 26 per cent in August from a year earlier as Beijing tries to re-energise flagging economic growth and convince reluctant local officials to spend.
Some of the world's biggest emerging economies are pleading for the United States to end their drawn-out agony and raise interest rates now.