After five weeks of being in the red zone, the benchmark Straits Times Index (STI) gained 1.4% to 2551.1 points from last week’s 2515.7 points on Tuesday (Aug 11).

This comes despite the Ministry of Trade and Industry’s (MTI) revised growth forecast for the year to -7% and -5%, and news that 2Q20 GDP ended June plunged 13.2% y-o-y, which is lower than the 12.6% predicted.

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