Singapore’s economy expanded 0.1 percent on a quarter-on-quarter annualized basis in the second quarter, above expectations for a 0.1 percent contraction in a Reuters poll.
On an annual basis, the economy expanded 2.4 percent in the second quarter, as expected.
“You cannot look at Singapore in isolation. You need to look at it with the developing world, the U.S. and Europe and rest of Asia. The part which is making us very optimistic is how China is positioning itself after everything. When you want to look at Singpoare, you need to look at what’s driving Asia and that’s China, which is the key to the next 12-18 months and how shares wil shape up ahead,” said Kunal Ghosh, emerging market portfolio manager at Allianz Global Investors.