Global recession fears spook Asia markets
STI falls 2% at the open but claws back early losses to finish at 3,126.09, down 21.51 points or 0.7%
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
INVESTMENT sentiment continues to seesaw since US President Donald Trump declared tariffs on remaining Chinese imports. But on Thursday, investors in Asia appeared mostly concerned over global recession fears, thanks to a brief US yield curve inversion of the US 10-year and two-year treasury yield curve.
Regional indices opened sharply lower, with Singapore's Straits Times Index (STI) recording a 2 per cent drop at the open. But the STI clawed back early losses to finish at 3,126.09, down 21.51 points or 0.7 per cent.
Australia, Japan and Malaysia also closed lower. China and Hong Kong finished higher. The latter, mired in protests for the past 10 weeks, staged a surprising performance on bargain hunting by mainland investors. South Korea was closed.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
