Slowing factory output dents STI
Benchmark index closes at 3,239.10, 3.02 points higher than previous day; most actively traded counter is Marco Polo Marine
Add BT as a preferred sourceSINGAPORE shares erased most of their gains on Wednesday to end just that bit higher after official data was released prior to the midday trading break, which showed that Singapore's August factory output growth had come in below expectations.
Headwinds from the US-China trade conflict - coupled with slowing demand from China - and high base effects joined forces to slow down industrial production, which rose by 3.3 per cent year on year in August, below economists' expectations of 4.7 per cent and slower than the 6.7 per cent rise in July.
Wednesday's trading session marks the sixth consecutive session of gains for the local bourse, ahead of Thursday's Federal Open Market Committee (FOMC) event.
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