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Singapore shares stagnate as investors pivot to US and China

Singapore

SINGAPORE'S stock market seems to be stuck in a rut following last year's gain.

Mirroring the weakness in markets across the region, the Straits Times Index finished below the key 3,300 mark at 3,287.4 points on Friday, down 3.4 per cent since the year began.

"Equities have by and large given you zero return this year. So the almost universal feedback is that it's been a tough year to make money. You're seeing money come out of Asia, generally speaking," Aditya Srinath, executive director for equity research at JP Morgan, told The Business Times last week.

The US dollar has resumed its upward march since April, and global funds have been flowing back to the US to ride the stronger short-term...

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