Singapore shares slip after budget, Malaysia up tracking Wall Street

SINGAPORE (NewsRise) – Shares in Singapore fell Monday after the government’s budget detailed few short-term measures to help businesses cope with slowing growth and rising costs.

The FTSE Straits Times index shed 0.4% to 3,096.69 points, its first decline in four sessions. The Singapore dollar was little changed at 1.418 against the U.S. dollar.

Finance Minister Heng Swee Keat described the budget as expansionary, with government expenditure expected be around 5.2% higher than in the previous financial year. Heng projected a smaller budget surplus of S$1.9 billion ($1.33 billion), or 0.4% of gross domestic product, for the year 2017/18.

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