Singapore stocks fall amid heightened geopolitical tensions; STI down 0.3%
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The Straits Times Index was up 14.22 points at 4,834.88.
ST PHOTO: AZMI ATHNI
Tan Nai Lun
- Singapore stocks declined on Jan 19, with the Straits Times Index (STI) dropping 0.3% due to increasing geopolitical uncertainty.
- Market sentiment was affected by US President Trump's tariff threats on European nations, perceived as geopolitical instruments.
- CapitaLand Investment was the top STI gainer, while Seatrium performed the worst; local banks showed mixed results.
AI generated
SINGAPORE - Singapore stocks ended lower on Jan 19 amid heightened uncertainty from rising geopolitical tensions.
The benchmark Straits Times Index (STI) lost 0.3 per cent, or 14.22 points, to finish at 4,834.88. Meanwhile, the iEdge Singapore Next 50 Index slid 0.1 per cent, or 1.01 points, to 1,487.93.
Across the broader market, losers outnumbered gainers 319 to 250 after two billion securities worth $1.3 billion changed hands.
Markets opened the week “like a risk engine hitting a pothole at speed”, said Mr Stephen Innes, managing partner at SPI Asset Management.
Overnight, US President Donald Trump threatened tariffs on some European nations over Greenland. This was unlike earlier negotiations, where tariffs were a bargaining chip over trade imbalances or market access, Mr Innes noted.
“Once tariffs are reframed as geopolitical instruments, markets stop asking how big the levy is and start asking what else is now in play,” he added.
Key regional indexes were mixed. Hong Kong’s Hang Seng Index lost 1 per cent and Japan’s Nikkei 225 lost 0.7 per cent, while the FTSE Bursa Malaysia KLCI was flat. South Korea’s Kospi rose 1.3 per cent.
On the STI, CapitaLand Investment led the gainers, rising 1.4 per cent, or four cents, to $2.96.
The worst performer was Seatrium, which fell 3.6 per cent, or eight cents, to $2.16.
The three local banks ended mixed. UOB rose 0.3 per cent, or 10 cents, to $36.84; while DBS Bank finished 0.7 per cent, or 41 cents, lower at $58.71; and OCBC Bank fell 0.6 per cent, or 13 cents, to $20.31. THE BUSINESS TIMES
