STI falls 0.5% on poor market sentiment
Analysts warn of protracted negativity as trade tensions cast long shadow over region's performance
THE gloomy sentiment over global trade appears to have dug in its heels, as markets brace themselves for a protracted tariff spat between Washington and the rest of the world.
The Straits Times Index (STI) ended Thursday neatly on the 3,300 mark on a decline of 15.9 points, or 0.48 per cent, with losers beating gainers 250 to 147 on the full bourse.
Oriano Lizza, a Singapore-based CMC Markets sales trader, said that the previous day's mild recoveries "are purely damage limitations as trade talks linger over the region", while Paul Gruenwald, S&P Global Ratings' chief economist, warned: "Trade risks remain front and centre as the US launched a new round of tariffs against China, as well as Europe and Canada."
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