Singapore shares remain in negative territory after data showing slowdown in China’s growth sparked reversal from 3,193 intraday high; STI down 0.2% at 3,171.81, with decliners outnumbering gainers 1.3 to 1.

“The market is still very much news driven, we had a rally on the Dow last night which started us off this morning, and the China data gave an excuse to take profits,” says dealer at local brokerage. 

 

Adds, “I don’t think we’re in much danger, at least for the next week. The real danger will come after the Fed meeting and earnings season. I don’t see much supporting the market in November.”

 

Mapletree Industrial Trust (ME8U.SG) jumps above $0.93 IPO price as trade starts in REIT after lunch; tops most active with 216 million shares traded, last at $1.16. 

 

Other actives include: Golden Agri (E5H.SG) down 2.2% at $0.655, Berlian Laju (B66.SG) +9.1% at 0.060, Genting Singapore (G13.SG) off 1.8% at $2.22. Intraday low at 3148 unlikely revisited today.