Anticipated Opposition to Singapore Stock Market Index at 4,300 Level
In the world of finance, the beginning of the week brought a mix of challenges and concerns for investors. The lead from Wall Street was weak, with the major averages opening lower and remaining in the red throughout the day, although off session lows. The Dow Jones Industrial Average dropped 249.07 points, the NASDAQ sank 175.92 points, and the S&P 500 lost 44.72 points.
The sell-off on Wall Street was attributed to renewed trade uncertainty following the U.S. Court of Appeals ruling on former U.S. President Donald Trump's tariffs. On August 29, 2025, the court declared most of the tariffs as illegal under the International Emergency Economic Powers Act (IEEPA).
Meanwhile, across the Atlantic, European and U.S. markets were down, and Asian bourses are expected to follow suit, due to renewed uncertainty regarding U.S. tariff policies. The global forecast for Asian markets is negative, with Asian markets bracing for potential ripples from the U.S. Court of Appeals ruling.
In a separate development, concerns about supply disruptions caused crude oil to surge on Tuesday. The U.S. Court of Appeals for the Federal Circuit's ruling on Trump's tariffs and the ongoing conflict between Ukraine and Russia have raised concerns about potential supply disruptions, sending crude oil prices soaring. West Texas Intermediate crude for October delivery was up $1.51 or 2.36 percent at $65.52 per barrel.
On a brighter note, the Singapore stock market has increased in five consecutive sessions, gaining more than 50 points or 1.2 percent. The Singapore stock market's resilience was evident, with the Straits Times Index (STI) closing at 4,298.51 after trading between 4,273.26 and 4,301.17. The STI's performance was supported by gains from financials and retailers, although losses from industrials and properties slightly offset these gains.
The U.S. manufacturing activity increased slightly in August, as per the Institute for Supply Management report. Although the index still posted its sixth consecutive month of contraction, the slight increase in U.S. manufacturing activity may offer a glimmer of hope amidst the broader economic uncertainties.
Treasury yields surged in reaction to the ruling on Trump's tariffs, amid concerns about potential government repayment of billions of dollars. The surge in treasury yields added to the overall market volatility, as investors grappled with the implications of the U.S. Court of Appeals ruling and potential supply disruptions.
In the world of business, companies such as CapitaLand Ascendas REIT, CapitaLand Integrated Commercial Trust, CapitaLand Investment, City Developments, Comfort DelGro, DBS Group, United Overseas Bank, DFI Retail Group, Genting Singapore, Hongkong Land, Keppel DC REIT, Keppel Ltd, Oversea-Chinese Banking Corporation, Seatrium Limited, Frasers Centrepoint Trust, SembCorp Industries, Singapore Technologies Engineering, SingTel, Thai Beverage, UOL Group, Wilmar International, Yangzijiang Financial, Yangzijiang Shipbuilding, Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust, SATS and Frasers Logistics & Commercial Trust had varying performances on the day, reflecting the broader market volatility.
As the week progresses, investors will continue to keep a close eye on developments regarding U.S. tariffs, supply disruptions, and the global economic landscape, with potential implications for markets around the world.
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