Singapore stocks close flat as factory output slump caps gains

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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