SINGAPORE shares began Tuesday (Jan 21) trading in negative territory, as markets abroad finished mostly flat after US President Donald Trump’s second inauguration.
As at 9.01 am, the Straits Times Index (STI) was down 0.3 per cent or 11.42 points at 3,796.55. Across the broader market, losers outnumbered gainers 49 to 44 after 23.1 million securities worth S$51 million changed hands.
Oil exploration and production company Rex International was the most actively traded counter by volume. It slipped 0.7 per cent or S$0.001 to S$0.139 with 3.2 million securities transacted.
Other actively traded counters included medtech company Biolidics, which traded flat at S$0.027, and CapitaLand Integrated Commercial Trust, which fell 0.5 per cent or S$0.01 to S$1.96.
The three local banks mostly traded lower at Tuesday’s open. UOB fell 0.9 per cent or S$0.32 to S$36.83. DBS dropped 0.5 per cent or S$0.22 to S$43.40, while OCBC traded flat at S$17.16.
In the US, markets were optimistic as investors welcomed Trump’s return to office with expectations that his second term signalled agenda spanning pro-business policy, trade revisions, immigration crackdowns, tax cuts and the easing of cryptocurrency regulation. US bourses were closed Monday in commemoration of the Martin Luther King Jr holiday.
Trump held off on immediately imposing tariffs on foreign countries – including China – following his inauguration, despite reiterating plans to form a new agency to collect tariffs and duties from foreign sources.
Over in Europe, equities finished steady on Monday after previously logging a three-month high on expectations of Trump refraining from raising tariffs. The pan-European Stoxx 600 index closed 0.05 per cent higher at 523.87.
Copyright SPH Media. All rights reserved.
