Singapore shares edge lower at Thursday’s open; STI dips 0.1%
Investors continue to wait in uncertainty after the US Supreme Court did not issue a ruling on the challenges to ‘Liberation Day’ tariffs
[SINGAPORE] Singapore stocks edged lower at market open on Thursday (Jan 15), tracking overnight losses on Wall Street.
The Straits Times Index (STI) shed 3.83 points or 0.1 per cent to 4,808.68 as at 9.02 am.
Among the actively traded counters by volume was Frasers Logistics & Commercial Trust , which remained flat after 4.3 million units changed hands.
Mapletree Logistics Trust units were down 1.5 per cent or S$0.02 at S$1.34, while units of CapitaLand Ascendas Reit fell 0.4 per cent or S$0.01 to S$2.87.
Banking stocks were trading mixed at Thursday’s open. DBS slipped 0.2 per cent or S$0.09 to S$58.23, while UOB edged down 0.3 per cent or S$0.11 to S$36.40. OCBC gained 0.1 per cent or S$0.01 to S$20.14.
Wall Street stocks closed lower overnight, with the S&P 500 losing 0.5 per cent and the Nasdaq Composite dropping 1 per cent. Technology and bank stocks led the declines.
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Investors continue to wait in uncertainty after the US Supreme Court did not issue a ruling on the challenges to US President Donald Trump’s “Liberation Day” tariffs on Wednesday.
The court released several opinions but remained silent on the challenge to Trump’s use of the International Emergency Economic Powers Act, leaving the tariffs in place and prolonging legal and economic uncertainty.
The court has not said when it will issue its next opinions but could schedule more decisions next week, when the justices again are in session.
Trump’s tariffs, announced on Apr 2, 2025, placed levies of 10 to 50 per cent on most imports, along with duties imposed on Canada, Mexico and China in the name of addressing fentanyl trafficking.
On Wednesday, Trump also imposed a 25 per cent tariff on certain advanced computing chips, such as the Nvidia H200 AI processor and a similar semiconductor from AMD called the MI325X, based on a fact sheet released by the White House.
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