STI Falls 0.65% Amid Global Trade War Fears
The decline in the STI and mixed economic indicators highlight the complexity of the trade war's impact on Singapore's economy, with investors bracing for a challenging and uncertain road ahead, as they closely watch the performance of the STI and other economic indicators.
Singapore's stock market ended the week in the red, tracking regional declines, amid fears of a global trade war sparked by US President Donald Trump's tariff measures, with the Straits Times Index (STI) falling 0.65% to 3,895.70.
The decline in the STI was reflected in the performance of various sectors, with shares of Yanlord Land and Olam Group declining. However, UOL Group's shares rose despite a 60% decline in attributable profit. The mixed performance of these companies highlights the uncertainty and volatility in the market.
The economic indicators also painted a mixed picture, with the Import Price Index dropping 1.3% year-on-year in January, while the Export Price Index slipped 2.2%. On the other hand, the Manufacturing Products Price Index rose 6.2% year-on-year, and the Domestic Supply Price Index increased 5.5%. These numbers suggest that the trade war is having a complex impact on Singapore's economy.
As the global trade war continues to unfold, investors will be closely watching the performance of the STI and other economic indicators to gauge the impact on Singapore's economy. The mixed signals from the market and economic indicators suggest that the road ahead will be challenging and uncertain.
