Singapore Shares Edge Lower on Concerns Over U.S. Treasury Secretary Nominee -- Market Talk

Dow Jones11-25 17:44

0944 GMT - Singapore's FTSE Straits Times Index edged 0.4% lower to close at 3731.39, reversing earlier gains amid mild concerns over U.S. President-elect Trump's nomination of Scott Bessent as Treasury Secretary. "Bessent has voiced support for tariffs but in a more discerning manner," said RBC Capital Markets' Alvin T. Tan. However, this "still implies that China will be among the first targets of U.S. trade protectionism," added the head of Asia FX Strategy. Among the STI's worst performers, Yangzijiang Shipbuilding dropped 2.2%, Singapore Technologies Engineering slipped 2.1%, and Singapore Airlines fell 1.9%. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

November 25, 2024 04:44 ET (09:44 GMT)

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