[SINGAPORE] Singapore shares fell on Wednesday (Apr 2), ahead of the United States unveiling tariffs against its trade partners.
The blue-chip gauge, the Straits Times Index, was 0.4 per cent or 14.64 points lower at 3,954.21, with just eight of the 30 constituents trading higher at the closing bell.
Stocks in the Asia-Pacific region were mixed on Wednesday as traders positioned themselves before US President Donald Trump’s expected tariff announcements, private bank LGT noted on Wednesday.
The FTSE Bursa Malaysia KLCI, Australia’s S&P ASX 200, China’s Shanghai Composite Index, and Japan’s Nikkei 225 all ended the day higher, while Hong Kong’s Hang Seng Index and South Korea’s Kospi both slid. Indonesia’s bourse was closed for Idul Fitri.
LGT said the reciprocal tariffs to be announced are expected to match the levy rates of the United States’ major trading barriers, as well as to counteract non-tariff barriers. The new duties will likely take immediate effect.
In Singapore, across the broader market, decliners beat gainers 251 to 231 after 1.1 billion securities worth S$1.4 billion were transacted.
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Property player Wee Hur closed down 2.9 per cent or S$0.015 at S$0.50, despite announcing on Tuesday a special dividend per share of S$0.07, subject to shareholders’ approval.
The payout comes after it completed its disposal of a 37.1 per cent stake in a portfolio of purpose-built student accommodation assets in Australia. The special dividend was higher than Phillip Securities Research’s expectations of S$0.065 per share.
Wee Hur received net proceeds of about S$320 million, or 67 per cent of its market value, from the transaction. This will boost its balance sheet to a net cash position of S$122 million after the special dividend payout, from net debt, said Phillip Securities Research analyst Chong Yik Ban.
Shares of Chinese electric vehicle maker Nio rose 0.5 per cent or US$0.02 to US$3.89 on Wednesday, after it published its shipment statistics.
It delivered 15,039 vehicles in March, 26.7 per cent higher than in the previous corresponding period. For the first quarter, the group delivered 42,094 vehicles, a 40.1 per cent year-on-year increase.
Meanwhile, ComfortDelGro shareholders shrugged off the impending competition from Grab, which on Wednesday was granted a 10-year taxi licence. ComfortDelGro shares closed 0.7 per cent or S$0.01 up at S$1.48.
