[SINGAPORE] Singapore stocks continued their decline on Tuesday (Apr 8) morning, but the worst of the fallout from Trump’s tariffs appears to be over after Monday’s beating.
Shortly after the market opened, the Straits Times Index (STI) was down 0.4 per cent or 12.3 points at 3,528.2. Across the broader market, losers outnumbered gainers 189 to 66 after 216.9 million securities worth S$434.9 million changed hands.
This comes after the STI tumbled 7.5 per cent on Monday as markets across Asia continued to respond to Trump’s tariff announcement on Apr 2.
Singtel was the most actively traded counter by volume, trading flat at S$3.36 after 13.6 million shares were transacted.
Other actively traded counters included food distributor Oceanus, trading flat at S$S0.005 after 11 million shares changed hands.
Maritime stocks were among the top gainers after taking the largest beating on Monday. Seatrium gained 4.2 per cent or S$0.07 to S$1.73. Sembcorp was up 3.6 per cent or S$0.21 at S$6. Yangzijiang Shipbuilding rose 3.1 per cent or S$0.06 to S$1.98.
Banking stocks continued their decline from Monday, trading lower after the bell. DBS shed 0.9 per cent or S$0.36 to S$38.92. OCBC was down 1.6 per cent or S$0.25 at S$15.22. UOB declined 0.6 per cent or S$0.21 to S$33.02.
Wall Street stocks closed mostly lower on Monday amid heavy swings, with the Dow Jones Industrial Average finishing down 0.9 per cent at 37,965.6. The broad-based S&P 500 dipped 0.2 per cent to 5,062.25, while the tech-rich Nasdaq Composite Index edged up 0.1 per cent to 15,603.26. Stocks briefly surged after reports indicated that Trump was suggesting a 90-day tariff pause, but retraced lower after the White House denied the claims.
In Europe, shares slumped during a volatile session on Monday, with the pan-European Stoxx 600 closing at its lowest since January 2024. It dropped 4.5 per cent to 474.01, down for the fourth straight session, while Germany’s benchmark index closed 4.3 per cent down.
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