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A file picture of a new condominium beside the Singapore River. PHOTO: SPH
The local market ended the day lower amid a region-wide pullback, as fresh signs of economic weakness in China emerged to shake investor confidence. The benchmark Straits Times Index (STI) was down 3.72 points or 0.11 per cent to 3,352.65, as 1.68 billion shares worth US$959.3 million changed hands across the entire market on Friday.
Singapore's manufacturing output shrank 4.4 per cent year-on-year in June, according to latest data by the Economic Development Board (EDB) released on Friday. This is way below the median estimate of a 0.4 per cent decline in a Reuters poll of economists.
The vacancy rate for private residential units rose 0.7 percentage points to 7.9 per cent for the second quarter of this year, according to Urban Redevelopment Authority data released on Friday. It is the highest vacancy rate recorded since 8.4 per cent in the fourth quarter of 2005.
Mainboard-listed Noble Group announced on Friday that it would be announcing its financial results for the period to June 30, 2015, on August 13. The embattled commodities giant said also that in addition to its normal conference call, it intends to hold a follow-up Investor Information Day in Singapore.
DBS' head of institutional banking Jeanette Wong has been named one of the top 25 women in Asia-Pacific's financial sector by regional magazine FinanceAsia. Ms Wong, 55, is the only Singapore banker honoured this year together with some of the most influential women in investment and commercial banking across the Asia-Pacific.
China's factory sector contracted by the most in 15 months in July as shrinking orders depressed output, a preliminary private survey showed on Friday, a worse-than-expected result that should reinforce bets the struggling Chinese economy will get more stimulus. The flash Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI) dropped to 48.2, the lowest reading since April last year and a fifth straight month below 50, the level which separates contraction from expansion.
Eurozone private sector business activity slowed in July but was holding up much better than expected against a "rollercoaster" Greek debt crisis, a key survey showed Friday. The closely watched Markit Economics Composite Purchasing Managers Output Index (PMI) for July slipped to 53.7 points from 54.2 in June when it hit a more than four-year high.
