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STI on the backfoot despite factory output gain

Thiveyen Kathirrasan and Felicia Tan
Thiveyen Kathirrasan and Felicia Tan • 1 min read
STI on the backfoot despite factory output gain
The benchmark Straits Times Index (STI) dipped 0.1% w-o-w to 2,482.4 on Monday afternoon.
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The benchmark Straits Times Index (STI) dipped 0.1% w-o-w to 2,482.4 on Monday afternoon (September 28), despite Singapore’s factory output registering a 13.7% y-o-y increase in August.


See: Singapore's factory output surprises with 13.7% increase in August

Singapore banks – DBS, OCBC, and UOB – gained slightly this week at 0.7%, 0.4%, and 0.1% w-o-w respectively. On September 22, the Monetary Authority of Singapore (MAS) said that it will look into a report that said that some US$4.4 billion ($5.98 billion) of suspicious transactions flowed through all three banks.

As a result, shares fell 1.5%, 0.6%, and 1% for DBS, OCBC, and UOB respectively, on the afternoon that same day.

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