Singapore shares fall 0.2% following latest Trump threats against Iran
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Across the broader market, decliners outnumbered gainers 303 to 267, after 1.4 billion securities worth $2.1 billion change hands.
ST PHOTO: AZMI ATHNI
Ranamita Chakraborty
- Singapore's STI fell by 0.2% to 4,885.45, while the iEdge Singapore Next 50 Index dropped 0.2% to 1,453.06.
- Regional markets showed mixed results; Hang Seng and FTSE Bursa Malaysia KLCI rose 0.2%, while Nikkei 225 and Kospi declined.
- Trump's threats against Iran and reports of potential US ground operations influenced market performance, causing investor uncertainty.
AI generated
SINGAPORE - Local stocks ended lower on March 31 and regional markets posted mixed results after US President Donald Trump escalated threats against Iran and its energy infrastructure.
Singapore’s benchmark Straits Times Index (STI) lost 0.2 per cent or 11.81 points to finish at 4,885.45. Meanwhile, the iEdge Singapore Next 50 Index retreated 0.2 per cent or 2.4 points to 1,453.06.
Within the iEdge Singapore Next 50 Index, Keppel Infrastructure Trust was the top gainer, rising 2 per cent or one cent to 51 cents. Meanwhile, Pan-United Corp was the biggest decliner, falling 5.5 per cent or nine cents to end the session at $1.55.
Across the broader market, decliners outnumbered gainers 303 to 267, after 1.4 billion securities worth $2.1 billion changed hands.
OCBC Bank led the gainers on the STI, rising 1.6 per cent or 34 cents to $21.97. The other local banks ended mixed. UOB was up 0.3 per cent or 11 cents at $36.65, while DBS finished 0.1 per cent or seven cents lower at $56.90.
The blue-chip index’s biggest decliner was Jardine Matheson, which fell 3.5 per cent or US$2.57 to US$71.15.
Key regional indexes were mixed. Both the Hang Seng Index of Hong Kong and the FTSE Bursa Malaysia KLCI advanced 0.2 per cent. Japan’s Nikkei 225 fell 1.6 per cent and South Korea’s Kospi was down 4.3 per cent.
On Wall Street, stocks ended mostly lower on March 30, as Mr Trump stepped up threats against Tehran and its energy infrastructure and after reports that the Pentagon may be preparing for ground operations in Iran.
“The development has some observers worried about a prolonged war, while others think it raises the odds of a deal,” said Mr Jose Torres, senior economist at Interactive Brokers. He added that equity investors seem to fall into the latter camp. THE BUSINESS TIMES
