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

MT Newswires
15 Apr

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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