Singapore Financial Sector Forecast to Grow Faster, Benefiting SIMSCI Index Constituents.
- According to the latest quarterly Survey of Professional
Forecasters, the Singapore economy is expected to expand by 2.8% in
2015, down from estimate of 3.1% in December. However, the financial
sector is expected to grow at 7.5% vs 6.5% predicted last December.
SIMSCI Index, which is heavily anchored by financials, could benefit
from this higher growth.
- The Monetary Authority of Singapore (MAS), in a surprise move,
adjusted the NEER policy band on 28 January. Since then, the Singapore
dollar has fallen 2.53% against the US dollar.
- Singapore Budget offers the manufacturing and construction sectors some boost, while GST credits will help consumer spending.
- SIMSCI Futures continued to gain ground in February, achieving an
average daily volume of 15,156 contracts, with month-end open interest
reaching a high of 68,104 in February.
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