Singapore market dips on China data

THE Singapore market trended lower, like most other Asian markets, after Chinese manufacturing readings failed to meet expectations. This brought worries of weakness in the world's second-largest economy, despite Beijing's attempts to spur growth.

"The softer-than-expected leading indicators in April suggests that economic recovery in China remains fragile and supportive fiscal and monetary policies are still necessary to see through further stabilisation in growth this year," UOB economist Ho Woei Chen, noted.

"As such, this could dispel market concerns that the Chinese government is scaling back stimulus."