Published:
Singapore stocks take a beating amidst fears of a US recession
NOL’s shares, for instance, plunged 5.3%.
A Reuters report said, “Singapore stocks that were largely exposed to the global economy and trade flows were among the hardest-hit.”
Most Southeast Asian stock markets dropped on Monday following the release of bleak US employment data. The United States failed to create any jobs in August for the first time in almost a year.
“Singapore was among Asian countries with a higher share of exports to Western countries, that could be hurt if the United States or European economies continued to slow,” noted the report.
Meanwhile Singapore shares may open lower on Tuesday amidst renewed concerns about Europe's debt woes.
View the report here.
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