STI opens 4.5% higher on Trump’s tariff reversal
All 30 component stocks opened higher on April 10, with DBS leading the charge by gaining some 11% to return above the $40 level.
The Straits Times Index (STI) opened 4.5% higher on April 10 at 3,548.45 points on news of US President Donald Trump’s tariff reversal, which came around 2am Singapore time.
Trump announced a 90-day pause to the tariffs he imposed on some 60 countries and trading blocs, except for those against China, which he said would now rise to 125%.
The STI reached an intra-day high of 3,688.19 points in the first five minutes of trading, before declining to 3,605.01 points at 9.10am.
All 30 component stocks opened higher on April 10, with DBS leading the charge by gaining some 11% to return above the $40 level. Yangzijiang Shipbuilding, which was one of the worst-hit counters this week, also recovered more than 10%.
The STI closed at 3,393.69 points on April 9, declining for the fourth consecutive session.
The STI, which crossed 4,000 points for the first time on March 28, erased seven months’ worth of gains earlier this week, falling to levels last seen in September 2024.
At the 3,600 level, the STI is currently trading around levels last seen in November 2024.
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