Shares inched up 0.2 per cent at Thursday's open, following comments from US President Donald Trump at the United Nations General Assembly that a US-China trade deal is getting"closer and closer".It came as Singapore factory output plunged by 8 per cent year-on-year in August, extending the Republic's manufacturing decline into its fourth month.
OCBC Bank's head of treasury research and strategy Selena Ling said:"The September industrial production print will be critical in that it may tip the balance as to whether a technical recession eventually materialises in Q3 2019." Declines on the local bourse were led by industrial stocks on Thursday, with some Jardine-linked counters among the largest losers. Jardine Matheson Holdings closed down 3.11 per cent or US$1.70 at US$52.97, while Jardine Strategic Holdings finished at US$30.38, losing 2 per cent or US$0.62.
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