Market Update: STI climbs on back of strong GDP data

Uploaded By:  Paul Howell Submitted By:  Staff Reporter Case Study:  No The Straits Times Index climbed, along with its Asian peers, on Monday, up by 35.77 points, or 1.27% at 2,848.78. The gain came after the release of the country's Q3 GDP data, which shrank by 5.8% on a year-on-year basis, smaller than the 7% initial estimate. The Ministry of Trade and Industry (MTI) then revised its 2020 growth outlook, expecting a full-year GDP between 6.5% and 6%, from its previous forecast of a 5% to 7% drop. Policymakers remain optimistic, seeing a recovery of between 4% and 6% next year. read more