STI tracks Asian markets to end lower

Straits Times Index falls 20.02 points to 3,141.40 as investors brace themselves for new round of US-China tariff war

Published Mon, Sep 17, 2018 · 09:50 PM

THE new week brought fresh pain for local stocks as shares on the key Straits Times Index (STI) were hit, falling after three days of gains last week. Amid reports that US President Donald Trump is preparing to level a fresh salvo of US$200 billion in tariffs this week, the STI fell into the red for the first time since last Tuesday.

US President Donald Trump is likely to announce the new tariffs on about US$200 billion worth of Chinese imports as early as the end of Monday, a senior administration official told Reuters on Saturday.

Mr Trump's plan comes at a time when his Treasury Secretary Steven Mnuchin attempts to restart trade talks with another bilateral meeting this month.

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