STI hits 4-month low amid broad losses

BROAD-based declines sent the local market to a four-month low with investors increasingly uneasy over US-China trade tensions, which have spilled into the technology space.

Singapore's Straits Times Index (STI), which opened 0.5 per cent down, continued to tread lower across the session, before settling at 3,160.72, down 22.42 points or 0.7 per cent.

Even though the benchmark index has given up much of its gains from the year's rally, it is still up 91.96 points or 3 per cent in 2019.

Global equity markets had hummed along, pricing in mid-year trade resolution, but hopes were dashed when the US increased tariffs on US$200 million of Chinese imports a for…