Singapore shares dip on downbeat China data, hint of Fed tapering

SINGAPORE shares were weaker on Thursday after downbeat manufacturing data from China and the United States central bank hinted at the scaling back of its money-printing programme.

The Straits Times Index fell 11.85 points or 0.37 per cent to 3,172.38.

A private reading of mainland factory output released on Thursday was below analyst estimates, although the preliminary data for the month of November still indicated slight expansion in manufacturing.

Meanwhile, minutes of the US Federal Reserve's latest policy meeting, released on Wednesday, showed officials saying that the bond purchase programme could be reduced at one of its next few meetings if this was warranted by economic conditions.

The downbeat sentiment also affected the FTSE ST Mid Cap Index, which fell 0.57 per cent.

The most active counter was Dragon Group International, which slipped 0.7 cent or 5.9 per cent to 11.2 cents, as 96.8 million shares changed hands.