Singapore economy shrinks in the fourth quarter

Note: This section contains information in English only.
Source: Bloomberg

Singapore's economy declined in the 4th quarter, stressing Asian exposure to the debt turmoil in Europe despite manufacturing strengthening in India and China. Country's GDP fell 4.9% on a yearly basis in the 4th quarter of 2011, compared to previous quarter when it added 1.5%, reported nation's trade ministry. Overall economy expanded 4.8% in 2011 and according to forecasts may grow between 1% and 3% this year. 

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Tue, 03 Jan 2012 07:41:06 GMT

US Dollar weakens on improved manufacturing activity

The US Dollar depreciated against 15 out of 16 major peers as the increase in industrial activity boosted demand for riskier assets. US currency fell for the fourth straight day against its New Zealand counterpart as investors expect surge in American production activity. The Greenback declined 0.3% against the Euro reaching $1.2978 on Asian morning session. Currently EUR/USD is trading at $1.2979.

Tue, 03 Jan 2012 07:39:46 GMT

Asian markets rocket led by financials

Asian shares rallied on Tuesday fuelled by investor sentiment on improved China's manufacturing activity. Official China PMI data issued on Sunday indicated economy switched from contraction to expansion. Hong Kong's Hang Seng Index added 2.1%, Australia's S&P/ASX 200 index gained 1.1% and South Korea's Kospi rose 2.4%. Chinese and Japanese markets stayed closed for holidays. 

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