Singapore's STI Faces Downward Pressure Amid US Tariff Concerns

The Singapore stock market extended its decline on Wednesday, with the Straits Times Index (STI) closing at 3,954.21, a drop of 14.64 points or 0.37%. The index fluctuated between 3,924.92 and 3,965.13 during the session, reflecting ongoing investor uncertainty and a broader negative forecast for Asian markets. The downward trend is largely attributed to geopolitical tensions following announcements from U.S. President Donald Trump regarding sweeping tariffs on trade partners. While U.S. bourses managed to recover from an early slump to finish higher, the sentiment in Asia remains weighed down by the potential for disrupted trade flows. Sector performance within the STI was fragmented. Real estate and REITs saw notable declines, with CapitaLand Ascendas REIT falling 1.10% and Keppel DC REIT dropping 0.93%. Singapore Technologies Engineering also tumbled 2.63%. Conversely, some industrial and financial names showed resilience, with Yangzijiang Financial surging 3.27% and SembCorp Industries rising 2.49%. In the broader macro context, U.S. markets were supported by stronger-than-expected ADP private sector employment data for March and an increase in February factory orders. Additionally, energy markets saw a slight uptick, with WTI crude oil prices rising 0.7% to settle at $71.71 per barrel despite an unexpected increase in U.S. crude inventories.