The Straits Times Index (STI) opened slightly lower at 3,540.37 points on April 8, below its 3,540.5-point close the day prior.
The bellwether index had bounced back within the first five minutes of trading, however, reaching a high of 3,580.86 points, before sinking to a low of 3,524.46 points, below the opening value. The STI fell further to a low of 3,456.13 points within the first hour of trading.
The initial pop was led by yesterday’s biggest losers, with Seatrium, Sembcorp Industries , Keppel and Yangzijiang Shipbuilding rebounding from the worst losses among component stocks.
Seatrium, in particular, gained up to 6.6% from its previous close of $1.66, reaching a high of $1.77 so far today. The industrial engineering company was the biggest loser among component stocks yesterday, losing 14.43% of its value on April 7.
All 30 constituent stocks ended April 7 in the red amid a global sell-off triggered by US President Donald Trump’s tariffs, which have been levied on some 60 countries or trading blocs.
The STI had opened at 3,600.89 points on April 7, down from 3,825.86 points at its April 4 close.
