STI draws relief from hopes of tariff exemptions
The index finishes the day at 3,480.44, up 29.75 points with 279 gainers to 138 losers
STOCK markets in Asia recovered ground on Thursday, drawing relief from positive US job market data and hopes that US President Donald Trump's protectionistic tariffs may exempt key allies.
Investors struggled to get a read on the US President, who shifted his tariff threats away from Europe and to China. In his latest tweet, President Trump said China has been asked to develop a plan to cut its trade deficit with the US by US$1 billion. The tweet amused many economists who noted that US$1 billion represents a mere 0.27 per cent of the record US$375.2 billion goods trade surplus China had with the US last year. But China was not tickled. Its foreign minister Wang Yi warned that a trade war would only harm all sides.
Lombard Odier Investment Managers believe that the uncertainty around US trade policy is likely to remain for some time before clarity emerges.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Yahoo to lay off staff in Singapore as it shifts to content curation
US: Wall St opens higher on megacap strength, Fed verdict awaited
IReit Global occupancy rate grows to 91.5% in Q1
Yen surges against US dollar on suspected intervention