Singapore shares fell again on Wednesday as Trump's latest tariffs took effect, including a 104% levy on Chinese imports.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,372.38 and 3,437.46 throughout the day. It ended the session at 3,393.69, down 75.78 points or 2.2% compared to Tuesday's close.

Riverstone up 6.5%; Singtel up 1.2%; SIA down 0.8%; DBS Group, OCBC down over 2%; Keppel Reit, SIA Engineering down over 3%; SingPost down 4%; Sats down 7%.

SATS tumbles 8.3%, Apr 9th. UOB Kay Hian (UOBKH) analyst Roy Chen has downgraded his call on Sats Group to “hold” from “buy”, while slashing his target price (TP) to $2.89 from $4.00 previously in the process.

Shares of Singtel, Singapore's largest telecommunication company, jumped 1.2% on Wednesday, following the announcement of a substantial dividend increase and robust financial results for the first half of fiscal year 2025. 

In company news, shares of Ever Glory were up nearly 4% after it entered into a share purchase agreement with Guthrie GTS to acquire all the ordinary shares of Guthrie Engineering.

Thakral shares dipped over 6% after the company revealed that its Australia-based 31.7% owned property developer, GemLife, is currently considering strategic options.

Meanwhile, shares of Sembcorp Industries were down over 3% at the close after the company entered into a joint venture agreement with Bharat Petroleum (NSE:BPCL, BOM:500547) to explore renewable energy and green hydrogen projects across India.