Singapore’s STI tumbles more than 3% as tariff tensions resume
The US confirmed that Trump’s tariff hikes brought the additional rate on many Chinese products to 145 per cent.
[SINGAPORE] Singapore shares declined more than 3 per cent after the market opened on Friday (Apr 11), as tariff uncertainty returned.
The US confirmed that Trump’s tariff hikes brought the additional rate on many Chinese products to 145 per cent.
The Straits Times Index last was down 3.15 per cent to 3,465.15, with losers outpacing gainers 178 to 40. Securities traded totaled 102.37 million worth S$239.34 million.
Singapore’s trio of banks were down at the market open. DBS was down by 4.5 per cent or S$1.80 at S$37.87. OCBC fell 4.2 per cent or S$0.65 to S$14.78 and UOB declined 3.3 per cent or S$1.10 to S$32.11.
US markets tumbled again Thursday, after a relief rally on Wednesday. The S&P 500 was 3.5 per cent down, after soaring 9.5 per cent on Wednesday, while the Dow Jones Industrial Average dropped 2.5 per cent and the Nasdaq Composite dived 4.3 per cent.
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