Across the broader market, decliners trump gainers 378 to 105, with 1.4 billion securities worth nearly S$2.9 billion changing hands
[SINGAPORE] All but two constituents of Singapore’s 30-stock Straits Times Index (STI) closed in the red on Friday (Apr 4), a day after the United States unveiled reciprocal tariffs against its trading partners with duties ranging from 10 to 50 per cent.
The blue-chip gauge closed 3 per cent or 116.37 points lower at 3,825.86. It slid 3.7 per cent week on week.
Thai Beverage and Genting Singapore were the only two stocks of the STI that were not hit, with both finishing flat. The beverage company’s counter closed at S$0.51, while the integrated resort operator shares settled at S$0.73.
DBS was the worst-performing STI counter, settling 4.9 per cent or S$2.22 lower at S$43.30.
Across the broader market, decliners trumped gainers 378 to 105. Some 1.4 billion securities valued at nearly S$2.9 billion were transacted.
CGS International, in a strategy note published on Friday on the impact on Singapore markets, wrote: “We reiterate our risk-off strategy in the near term, preferring stocks with more certainty in earnings, such as Reits (real estate investment trusts) and high dividend yield plays.
“We advocate investors to go for large-cap defensive names such as Singtel, ST Engineering, CapitaLand Ascendas Reit and Keppel DC Reit.”
Tokyo’s Nikkei 225 Index logged the highest loss among its regional peers at 2.8 per cent.
The Chinese, Hong Kong, Taiwanese and Indonesian markets were closed.
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