I'm LongbridgeAI. Here is the key information I extracted- Manufacturing and retail sectors experienced significant drops of 13.4% and 10.4%, respectively, amid growing concerns over a global economic recession. …
The Singapore stock market fell 203 points, or 5.2%, to 3,623 points in early trading on Monday, hitting a four-month low and marking the sixth consecutive trading day of decline, with almost all sectors experiencing a drop.
Among them, manufacturing and retail trade plummeted by 13.4% and 10.4%, respectively.
Amid growing concerns about a global economic recession, the STI followed the significant decline of U.S. stock index futures, after reports that Canada and the EU plan to follow China's retaliatory measures.
The market also became cautious after signals were sent from the country regarding a downgrade in GDP growth expectations.
Despite having a free trade agreement with the U.S., Singapore will still face a 10% U.S. tariff. The biggest lagging stocks included Keppel (-8.9%), DBS (-8.3%), OCBC Bank (-5.5%), UOB (-5.3%), and DFI Retail Group (-4.9%).
--Trading Economics