Singapore Shares Slide Amid Concerns Over Looming US Tariffs; Ellipsiz Surges 42%
Singapore's stock market declined, with the Straits Times Index closing down 0.37% amid concerns over US tariffs. Ellipsiz shares surged 42% following a 19% profit increase in fiscal H1. Huationg Global's shares rose nearly 13% on positive profit forecasts, while The Trendlines Group's shares fell over 4% due to a projected net loss of $9-$11 million for the year, attributed to higher expenses and decreased portfolio value.
Singapore's stock market opened higher on Thursday before falling into the negative territory at the close, amid concerns over US President Donald Trump's incoming tariff spree.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,854.86 and 3,890.06 throughout the day. It ended the session at 3,860.76, down 14.37 points or 0.37% compared to Monday's close.
In company news, shares of Ellipsiz surged nearly 42% after the company's profit attributable to owners of the company surged 19% in fiscal H1 to SG$1.9 million from SG$1.6 million a year earlier.
Huationg Global soared nearly 13% at the close after the company forecasted an overall year on year improvement in its net profit attributable to owners for the 12 months ended Dec. 31, 2024.
Meanwhile, shares of The Trendlines Group fell over 4% at the close as it flagged a net loss of between $9 million and $11 million for the year ended Dec. 31, 2024, with the company attributing the forecast to higher expenses and decreased portfolio value due to write-offs.
