Singapore shares slip as tariff pause will end soon; STI drops 0.2%

STI dips to 4,013.62 as decliners beat gainers 282 to 192 across the broader market

Singapore equities retreated along with some regional indexes on Friday (Jul 4) as Asia’s export-driven economies brace for the impact of the upcoming lifting of the pause in implementing the United States’ reciprocal tariffs.

The Straits Times Index (STI) was 0.2 per cent or 5.95 points lower at 4,013.62 as decliners beat gainers 282 to 192 across the broader market, amid transactions of 1.3 billion securities worth S$1.1 billion.

Stephen Innes, managing partner of SPI Asset Management, said Asian markets slipped into Friday “like someone entering a dark alley with one eye over their shoulder”.

He commented that US equities might have “danced higher on a sweet spotted post-payroll sugar rush”, but Asia’s export-driven economies are facing the US tariff threat with President Donald Trump saying he will be sending trading partners letters about the tariff rates.

“Asian equities pulled back as traders braced for impact. It’s not panic yet – but it’s certainly not confidence either. The US jobs print may have given Wall Street a reason to run, but in Asia, the only thing running is the clock – and it’s counting down to what could be a fresh volley in Trump’s tariff blitz. No one wants to be holding risk when that first letter gets sent.”

In Singapore, all but one property players on the STI closed in the red a day after Singapore announced late on Thursday night higher Seller’s Stamp Duty (SSD) rates for residential properties, with the levy raised by four percentage points, and the holding period that SSD applies extended to four years.

Only CapitaLand Investment was spared the rout, with the real estate investment manager’s shares closing unchanged at S$2.71.

In contrast, Frasers Centrepoint Trust was the worst performing STI property constituent stock, sliding S$0.05 or 2.2 per cent to S$2.22 despite not being a residential property player.

The STI rose 1.2 per cent week on week, closing above 4,000 points since Wednesday.

Copyright SPH Media. All rights reserved.