Singapore Shares Muted as Regional Losses Following Trump's Latest Tariff Comments
Singapore shares showed slight gains on Thursday, with the Straits Times Index (STI) closing at 3,922.20, up 0.08%. This occurred despite regional losses following President Trump's comments on unilateral tariffs, raising trade war concerns. Notable company movements included Zhongmin Baihui Retail's shares rising nearly 4% due to a subsidiary's new venture, and Talkmed's shares increasing over 2% ahead of a High Court hearing related to its privatization. Additionally, CapitaLand China Trust's subsidiary entered a conditional agreement for the sale of a commercial property in Hunan.
Singapore shares were marginally up on Thursday, despite regional losses after US president, Donald Trump said that he would impose unilateral tariffs on the country's trading partners, as trade war fears reignited.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,911.33 and 3,933.32 throughout the day. It ended the session at 3,922.20, up 3.15 points or 0.08% compared to Wednesday's close.
In company news, shares of Zhongmin Baihui Retail were up nearly 4% with the company's subsidiary Shanxi Xinjiarong Property Development incorporating Shanxi Baihui Yueshang Commercial Management in China, with a registered capital of 20 million yuan.
Talkmed was up over 2% with the High Court of Singapore setting June 17 as the hearing date for the scheme of arrangement in connection with the company's privatization.
Meanwhile, CapitaLand China Trust's subsidiary, CRCT China Investment (Changsha), entered into a conditional equity interest transfer agreement with Changsha Kaiting Consulting and Management for the sale of a 100% interest in CapitaMalls Hunan Commercial Property to Changsha Kaiting.
