08.04.202501:54:58UTC+00Singapore Stocks Slump to 7-Month Low

In Tuesday's morning trading session, Singapore's stock market saw a sharp decline of 69 points, which equates to a 2.0% drop, settling at 3,471. This marks the sixth consecutive session of losses and drags the index to its lowest point in seven months. The downturn was largely driven by declines in the energy, minerals, consumer services, and financial sectors. This bearish trend followed a similarly lackluster performance on Wall Street's Dow Jones and S&P indices amidst recession concerns spurred by the ongoing trade dispute. On Monday, President Trump threatened to impose additional tariffs on China should it fail to remove duties on American imports, exacerbating tensions. Furthermore, investors are keenly awaiting U.S. inflation data, which could offer insights into the Federal Reserve's monetary policy trajectory, alongside observing consumer and producer price movements in China amid signs of sustained weak demand. Notably, among the hardest hit were Jardine Matheson, plummeting 3.9%, Mapletree Industrial Trust with a 2.0% fall, OCBC down 1.9%, UOL Group dropping 1.8%, and Hongkong Land Holdings, which lost 1.7%.