Blue-chip listcos scoop up more shares; Singapore market faces volatility on Trump tariff uncertainty

[SINGAPORE] Constituent companies on the Straits Times Index (STI) lost no time in picking up their own shares after the benchmark index tanked on US President Donald Trump’s tariffs.

The baseline 10 per cent tariffs, which kicked in on Apr 5, caused major markets in the West and the region to collapse when trading started last Monday (Apr 7).

Initially, most of the STI’s 30 constituents dived. Singtel recovered slightly on Wednesday morning, while local bourse operator Singapore Exchange made a steady comeback with successive gains after falling at Monday’s open.