[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 yesterday’s beating.
Shortly after the market opened, the Straits Times Index (STI) was down 0.4 per cent or 12.3 points at 3528.2. 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 yesterday as markets across Asia continued to respond to Trump’s tariff announcement last Wednesday (Apr 2).
Singtel was the most actively traded counter by volume, trading flat at S$3.36, after 13.6 million shares changed hands.
Other actively traded counters included food distributor Oceanus, trading flat at $S0.005, after 11 million shares changed hands.
Maritime stocks were among the top gainers after taking the largest beating yesterday. 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, to S$6. Yangzijiang Shipbuilding was up 3.1 per cent or S$0.06 to S$1.98.
Banking stocks continued their decline from yesterday, 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 to S$15.22. UOB declined 0.6 per cent or S$0.21 to S$33.02.
Wall Street stocks finished mostly lower on Monday amid heavy swings, with the Dow Jones Industrial Average finishing down 0.9 per cent at 37,965.60. 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 positive after reports suggested 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. The Stoxx dropped 4.5 per cent to 474.01 points, down for the fourth straight session, while Germany’s benchmark index closed 4.3 per cent down.
