Singapore Shares Sink to End Week in Red as Region Awaits Trump's Tariff Letters; QAF Shares Slides 6%
Singapore shares incurred losses on Friday to end the week in red, following news of US president Donald Trump's plans to send letters to trading partners over tariff rates.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,004.92 and 4,024.33 throughout the day. It ended the session at 4,013.62, down 5.95 points or 0.15% compared to Thursday's close.
In economic news, Singapore's retail sales increased 1.4% in May on a year-on-year basis, according to data released by the Department of Statistics.
In company news, shares of QAF (SGX:Q01) were down 6% at the close, with the company expecting to report a material reduction in its attributable profit to owners for the first half of the year.
Alpina (SGX:ZXY) was up nearly 4% as the company secured contracts worth a provisional sum of SG$300,000 during the first half of the year.
Meanwhile, shares Parkson Retail Asia (SGX:O9E) were down over 1% as the company liquidated its dormant indirect subsidiary, Myanmar Parkson.
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