Singapore shares are expected to make a technical rebound next week, dealers said. "There are some signs pointing to a possible minor rebound in the near term," said Ritesh Menon of OCBC Investment Research. With the blue chip Straits Times Index into its third week below 3,000 points, the index could be ready to start moving back, "perhaps sometime next week", said Najeeb Jarhom of AmFraser Securities.
The government is due to release key export data for June on Thursday. Analysts said figures released last week showed Singapore's economy expanded at its weakest pace in five years during the previous financial quarter.
The 1.9 percent second-quarter growth marked an easing from the 6.9 percent expansion recorded in the first three months, the government said, prompting analysts to cut their full-year growth forecasts for the city-state. For the week ended July 11, the Straits Times Index closed at 2,926.84, up 343 points or 1.19 percent from the previous week.
Average daily volume was 1.16 billion shares worth 1.21 billion Singapore dollars (890 million US), compared with 1.02 billion shares worth 1.23 billion dollars the week before.
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