Singapore shares fall amid Trump’s latest threats; STI down 0.2%

[SINGAPORE] Local stocks ended lower on Tuesday (Mar 31) and regional markets posted mixed results after US President Donald Trump escalated threats against Iran and its energy infrastructure.

Singapore’s benchmark Straits Times Index (STI) lost 0.2 per cent or 11.81 points to finish at 4,885.45. Meanwhile, the iEdge Singapore Next 50 Index retreated 0.2 per cent or 2.4 points to 1,453.06.

Within the iEdge Singapore Next 50 Index, Keppel Infrastructure Trust was the top gainer, rising 2 per cent or S$0.01 to S$0.51. Meanwhile, Pan-United Corp was the biggest decliner, falling 5.5 per cent or S$0.09 to end the session at S$1.55.

Across the broader market, decliners outnumbered gainers 303 to 267, after 1.4 billion securities worth S$2.1 billion changed hands.

OCBC led the gainers on the STI, rising 1.6 per cent or S$0.34 to S$21.97. The other local banks ended mixed on Tuesday. UOB was up 0.3 per cent or S$0.11 at S$36.65, while DBS finished 0.1 per cent or S$0.07 lower at S$56.90.

The blue-chip index’s biggest decliner was Jardine Matheson , which fell 3.5 per cent or US$2.57 to US$71.15.

Key regional indices were mixed. Both the Hang Seng Index of Hong Kong and the FTSE Bursa Malaysia KLCI advanced 0.2 per cent. Japan’s Nikkei 225 fell 1.6 per cent and South Korea’s Kospi was down 4.3 per cent.

On Wall Street, stocks ended mostly lower on Monday, as Trump stepped up threats against Teheran and its energy infrastructure and after reports that the Pentagon may be preparing for ground operations in Iran.

“The development has some observers worried about a prolonged war, while others think it raises the odds of a deal,” said Jose Torres, senior economist at Interactive Brokers. He added that equity investors seem to fall into the latter camp.