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Singapore's Ministry of Trade and Industry (MTI) announced on Tuesday that the Singapore economy grew by 1.8 per cent on a year-on-year basis in the second quarter, slower than the 2.8 per cent growth in the previous quarter.
Singapore Minister for Transport Lui Tuck Yew has stepped forward to say he would not contest in the coming general election.
The Singapore dollar fell the most since 2011, trading down 1.4 per cent to 1.3995 to the US dollar at around 1:45pm.
Noble Group Ltd declined as brokerages lowered their price targets for the stock even after the commodity trader published an auditor's report supporting its accounting practices.
The STI Today
Wall Street may have rebounded sharply on Monday after seven successive days of losses, but there was no impact here in Singapore as the Straits Times Index melted 43.6 points or 1.36 per cent to end at 3,153.06 on Tuesday, led by falls in the banks and Singtel.