SINGAPORE shares tumbled at the open on Monday (Feb 3) as investors mulled over the impact of tariffs imposed by US President Donald Trump over the weekend.
As at 9 am, the Straits Times Index (STI) was down 1.5 per cent or 55.72 points at 3,800.1. Across the broader market, losers outnumbered gainers 146 to 37 after 87.7 million securities worth S$139.4 million changed hands.
Among the actively traded counters by volume was Genting Singapore, which fell 2 per cent or S$0.015 to S$0.74, after 7.4 million shares changed hands.
Shares of Singtel dropped 3 per cent or S$0.10 to S$3.23 while, shares of Yangzijiang Shipbuilding declined 1 per cent or S$0.03 to S$3.02.
Bank stocks were trading in negative territory. DBS shares were down 1.3 per cent or S$0.56 at S$44.05. UOB shares fell 1.6 per cent or S$0.61 to S$36.90 and OCBC shares declined 1.2 per cent, or S$0.21 to S$17.19.
Wall Street stocks ended lower last Friday. The S&P 500 lost 30.64 points or 0.5 per cent to end at 6,040.53 points, while the Nasdaq Composite lost 54.31 points or 0.3 per cent to 19,627.44. The Dow Jones Industrial Average fell 337.47 points or 0.8 per cent to 44,544.66.
Indices lost ground after the White House said US President Donald Trump will implement on Saturday tariffs of 25 per cent on Canadian and Mexican imports and 10 per cent on Chinese goods.
In Europe, shares closed at a record high, led by technology stocks. The pan-European Stoxx 600 index closed up 0.1 per cent at 539.53 as technology led sectoral gains with a 1.7 per cent rise.
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