STI dips on rising trade friction
One analyst says tumbling Argentine peso could trigger a renewed wave of emerging market currency rout
THE Straits Times Index (STI) ended in the red for the second straight day in the week, on the back of rising tensions between the US and China fuelling further animosity between the two and sending waves across key Asian markets.
Both Singapore and Indonesia tracked broader Asian shares lower on fears that cooling economic growth in China - amid its quarrels with the United States - had dampened investor sentiment.
The Hang Seng fell 0.9 per cent, while the FTSE Bursa Malaysia Kuala Lumpur Composite Index ended flat.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Banks slip on Wednesday as STI falls 1.1%
Indian billionaire Birla said to mull US$1.2 billion in Novelis IPO
Apple’s China iPhone shipments soar 12% in March after discounts
Indian banks to step up IT spends as regulatory scrutiny rises
Puma returns to sales growth in Americas despite ‘volatile’ market
Shell to sell Singapore oil refinery, chemicals assets to Glencore joint venture