Trumpism ruffles feathers in markets

THIS week's shaky start for the US markets, spooked by US President Donald Trump's divisive immigration ban, has spilled over to Asian bourses, with Singapore shares closing lower on the first day of trading after the Lunar New Year weekend.

The benchmark Straits Times Index (STI) lost 18.05 points or 0.59 per cent to end Tuesday's session at 3,046.80, after reversing from its intraday high of 3,056.32. Turnover was average at 1.3 billion units worth S$1.1 billion, comparable to earlier weeks' S$1.1 billion daily average. Losers outnumbered gainers 215 to 192.

Regional markets were not spared either, with Tokyo's Nikkei 225, Australia's S&P/ASX 200 index, New Zealand's benchmark S&P/NZX 50 index, South Korea's Kospi and the FTS…