Singapore shares falter despite Wall Street gains
Continuing concerns over US-China tensions and Abe's shock resignation cited as reasons.
SINGAPORE shares on Monday failed to sustain gains inspired by last week's Wall Street rally, amid nagging concerns over the US and China tension and the uncertainty following Japanese Prime Minister Shinzo Abe's shock resignation.
Even China's better-than-expected official manufacturing Purchasing Manager's Index (PMI), which expanded for the sixth straight month in August, failed to boost the market.
Alicia Garcia Herrero of Natixis SA, said: "While China has given important signs that its economy is recovering from the Covid-19 shock, doubts remain on the speed due to the lingering uncertainties regarding new waves of Covid-19 globally as well as the still-hesitant consumption and poor labour market condition."
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