[SINGAPORE] Singapore shares were trading lower on Wednesday (Jan 21), mirroring losses in markets abroad after new tariff threats by US President Donald Trump sparked massive Wall Street selloffs.
The Straits Times Index (STI) fell 0.6 per cent or 27.27 points to 4,800.73, with around 61 million shares worth S$103.8 million changing hands as at 9.03 am. Losers outnumbered gainers 116 to 41.
Markets across Asia Pacific mirrored the losses. Japan’s Nikkei 225 fell 0.7 per cent to 52,615.91 and Korea’s Kospi Index declined 0.3 per cent to 4,870.22. Australia’s S&P/ ASX 200 also retreated 0.5 per cent to 8,775.2.
The retreats come as Wall Street’s three major indices suffered major losses on Tuesday and posted their steepest intraday drops in three-months after Trump’s tariff threats against Europe over Greenland triggered selloffs and gold hit new records while Bitcoin fell more than 3 per cent.
The S&P 500 lost 2.1 per cent, to end at 6,796.86 points, as the Nasdaq Composite declined by 2.4 per cent, to 22,954.32. The Dow Jones Industrial Average dropped by 1.8 per cent to 48,488.59.
The most heavily traded stocks on the Singapore Exchange included Addvalue Tech, which was 5.9 per cent or S$0.004 down at S$0.064, with 14.1 million shares transacted. ChinaKunda Tech rose 31.6 per cent or S$0.006 to S$0.025, with 10.7 million shares changing hands, while EFH was 4.5 per cent or S$0.004 down at S$0.085, with 2.7 million shares transacted.
The three local banks were trading lower at market open. DBS fell 0.6 per cent or S$0.36 to S$57.77 as at 9.04 am, with around 598,400 shares traded. OCBC dropped 0.2 per cent or S$0.040 to S$20.31, with around 348,800 shares changing hands, while UOB loss 1.1 per cent or S$0.41 to S$36.33, with some 182,200 shares transacted.
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