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Showing posts with the label Singapore.

News | Business | Asia | Markets | Singapore: Asia's 'shining star' suffers biggest ever slump

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3minutes - Source:  BBC Image copyright Getty Images Singapore’s economy plunged into recession in the last quarter as an extended lockdown hit businesses and retail spending. Economic growth in the city state shrank by 41.2% compared to the previous quarter, the country's biggest contraction on record. Authorities forecast it will be Singapore's worst recession since independence from Malaysia in 1965. The figures reveal the severity of the virus-driven downturn faced globally. Official data showed Singapore's second quarter gross domestic product (GDP) shrank 12.6% on a year-on-year basis. As one of first countries to release growth data for the period in which many economies were in lockdown, the numbers from Singapore provide a glimpse of how the ongoing pandemic could af

Asia Markets | Singapore: Morgan Stanley is bullish on Singapore stocks and expects 14% returns

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Weizhen Tan 5-6 minutes - Source: CNBC People wearing protective masks walk along the Jubilee Bridge at the Marina Bay waterfront on June 7, 2020 in Singapore. Suhaimi Abdullah | Getty Images. Morgan Stanley is bullish on Singapore stocks and expects as much as 14% returns for the MSCI Singapore index over the next 12 months. In fact, investors could increasingly be looking to Singapore as a safe place to invest in as uncertainty roils the region, the investment bank said. “We could see inflows supported by a growing of perception of Singapore as a safe haven amid geopolitical and economic uncertainties in the region,” analysts Wilson Ng and Derek Chang wrote in a report last week. Covid-19 has ravaged economies worldwide, and Asia-Pacific nations have not been spared. Singapore, a wealthy city state in the region, has unveiled one of the most generous measures to support its economy – four stimulus packages worth 100 billi