STI dives on US-China trade impasse
Benchmark index ends at 3,234.28, down 39.22 points or 1.2 per cent; other Asian markets also finish in the red
Add BT as a preferred sourceWITH the US and China deadlocked in trade deal negotiations, the Singapore market started the week in negative territory with investors more concerned over renewed tensions between the two sides.
Investors in Asia are also keeping a look-out for what type of countermeasures China will impose on the US following last Friday's tariff hike on US$200 billion worth of Chinese goods, IG market strategist Pan Jingyi said.
The market had a modest rebound on Friday on hopes that trade talks in Washington could bear some fruit, but the resulting impasse saw the Straits Times Index (STI) finish at 3,234.28, down 39.22 points or 1.2 per cent on Monday.
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