The Straits Times Index (STI) closed 7.46% lower at 3,540.5 points on April 7, erasing three weeks’ worth of gains.
All 30 constituents saw share price declines amid a global sell-off triggered by US President Donald Trump’s tariffs, which have been levied on some 60 countries or trading blocs.
Seatrium saw the biggest hit to its share price, plunging 14.43% to close at $1.66 on April 7.
Yangzijiang Shipbuilding, Keppel and Sembcorp Industries also bore the brunt of aggressive selling, closing 11.52%, 11.15% and 9.67% lower respectively.
Shares in Yangzijiang Shipbuilding have been declining since February, when the US proposed steep fees on Chinese-built or Chinese-operated ships entering American ports. Yangzijiang Shipbuilding shares have fallen some 35% year to date.
See also: Seatrium, YZJ Shipbuilding, Keppel, CLI lose more than a tenth of value as STI falls 8%
DBS shares declined the most among the three banks, falling 9.28% to close at $39.28, sinking below the $40 mark for the first time since November 2024.
On the other end is CapitaLand Integrated Commercial Trust , which closed 3.74% lower in the softest decline within the bellwether index.
The STI had reached an intra-day low of 3,494.39 points soon after opening at 3,600.89 points, down from 3,825.86 points at its April 4 close.
Chart: SGX
