Singapore's economy shrinks

(01:52) Report

July 10 - Asia stocks largely gained on Thursday despite fresh signs of a weakening economies across the region.

Singapore posted its biggest economic contraction in seven-years, as trade with the U.S. and Europe declined.

Singapore is the first Asian nation to report economic growth figures, and its heavy dependence on trade is a gauge for other countries.

Tara Joseph-Hui reports.

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