Singapore Shares Rise After Trump Touts Possible Tariff Reprieve for Auto Industry

MT Newswires
04-15

Singapore shares closed sharply higher on Tuesday, mirroring gains across major global indices after US President Donald Trump floated the possibility of a tariff reprieve for the auto industry.

The indication followed the move to exempt smartphones, computers and certain other electronics from Trump's "reciprocal" tariffs.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,566.80 and 3,624.72 throughout the day. It ended the session at 3,624.72, up 75.81 points or 2.1% compared to Monday's close.

In company news, shares of Leader Environmental Technologies (SGX:LS9) were up nearly 3% at the close even after the company reported three consecutive years of losses.

Wilmar International (SGX:F34) was down nearly 2% after the company issued a statement addressing recent media reports concerning the arrest of Indonesian judges involved in a 2022 bribery case where the company was implicated.

Meanwhile, shares of Hotel Properties (SGX:H15) were up nearly 1% after its managing director, Ong Beng Seng decided to step down from the role effective April 29 in the midst of a scandal after he was accused of giving high-value gifts to ex-transport minister, S. Iswaran, who was given a prison sentence last year.

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