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Singapore stocks close lower, rattled by escalating trade war jitters
SINGAPORE shares kicked off the week closing lower on Monday, as concerns over an escalating trade war continues to haunt investors. After opening at 3,279.53, the benchmark Straits Times Index (STI) eased to close at 3,260.84, down 0.81 per cent, or 26.56 points, from Friday’s close.
About 1.9 billion securities, valued at S$1.1 billion, changed hands. Losers outpaced gainers at 270 to 139.
Commodities group Noble was among the actively traded stocks, with more than 91 million shares traded. Noble ended at S$0.175, up 3.4 cents, or 24 per cent. Last week, it secured a binding commitment for US$100 million of trade finance facilities from a group of existing shareholders.
The Wall Street Journal reported that US President Donald Trump planned to bar many Chinese companies from investing in US technology firms and block additional technology exports to China. The news sent MSCI’s All-Country World index, which tracks shares in 47 countries, down on Monday morning trade in Europe.