Overnight Market Brief – 6 September 2021

Singapore shares closed lower on Friday, as investor sentiment was cooled by weak retail sales data. Singapore retail sales grew a marginal 0.2 per cent year on year in July, easing from the double-digit growth seen in the previous two months, data from the Department of Statistics Singapore (SingStat) showed on Friday. Singapore Exchange Ltd. last week presented rules for the listing of special purpose acquisition companies, or SPACs, as it attempts to get a slice of what has become a worldwide frenzy. It is allowing SPACs to list under a rulebook that is more lenient than initially envisioned and more in line with the framework in the US.

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