FX.co ★ Singapore Stocks Plunge to Over 7-Month Low

Singapore's stock market experienced a significant decline, with the index dropping 82 points, or 2.4%, to 3,388 during early trading on Wednesday. This marked the eighth consecutive session of losses, mirroring a downturn on Wall Street the previous night. The market's downturn was attributed to growing concerns over a potential global trade war, as new U.S. tariffs ranging from 10% to 4% on Chinese goods were set to take effect today. The Straits Times Index (STI) plunged to its lowest point since August of last year, with nearly every sector posting losses, particularly led by producer manufacturing and electronic technology industries.

Market participants were also closely watching the release of U.S. inflation data slated for later in the week, which could provide further insights into the Federal Reserve's future interest rate decisions. Additionally, traders monitored Chinese consumer and producer prices as indicators of demand weaknesses in the country.

Among the most significant decliners were companies such as SATS, which fell by 4.2%, Venture Corporation, which declined by 3.9%, Jardine Matheson, which dropped by 3.8%, and Hong Kong Land Holdings, which decreased by 3.7%.