Singapore Shares Slump 8.1%, Led by Banks, Shipbuilding Companies -- Market Talk

Dow Jones

04/07

0116 GMT - Singapore's FTSE Straits Times Index slumps 8.1% to 3515.58 in early trade, tracking Wall Street's selloff last Friday. "The U.S. ignited a global trade war," Phillip Securities Research's Paul Chew says in commentary. "The risk of recession is high. We worry (President) Trump has kicked start a negative feedback loop of cautious consumers and businesses that will spend less," the head of Research adds. Index heavyweight DBS slides 11%, UOB drops 9.2%, and OCBC sheds 6.6%. Yangzijiang Shipbuilding sheds 10% and Seatrium loses 9.8%. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 06, 2025 21:16 ET (01:16 GMT)

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We worry (President) Trump has kicked start a negative feedback loop of cautious consumers and businesses that will spend less,\" the head of Research adds. Index heavyweight DBS slides 11%, UOB drops 9.2%, and OCBC sheds 6.6%. Yangzijiang Shipbuilding sheds 10% and Seatrium loses 9.8%. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 06, 2025 21:16 ET (01:16 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SGXZ27511609.SGD","symbol_name":"NIKKO AM SINGAPORE DIVIDEND EQUITY \"SGD\" (SGD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2525087319","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2525087319","pubTimestamp":1743988560,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0116 GMT - Singapore's FTSE Straits Times Index slumps 8.1% to 3515.58 in early trade, tracking Wall Street's selloff last Friday. \"The U.S. ignited a global trade war,\" Phillip Securities Research's Paul Chew says in commentary. \"The risk of recession is high. 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