This week, in collaboration with the Securities Investors Association Singapore (SIAS), we’re diving into the major happenings in the global equity markets in our Weekly Market Review. We’ll also take a closer look at what’s been going on with ST Engineering and Sembcorp Industries. To get the full picture, be sure to watch the accompanying video where we discuss what’s on our radar for the coming week.
Now, onto the Weekly Market Review.
Starting with a macro update: the Straits Times Index (STI) made headlines by soaring past the 4,000 mark for the very first time, hitting an all-time high. It wrapped up the week with a 1.2% gain, a sure sign of bolstered confidence among investors in Singapore’s financial health.
In contrast, over in the US, the markets painted a less rosy picture. The S&P 500 took a 1.5% dip, and the Nasdaq wasn’t far behind with a drop of 2.6%. It was mainly the tech stocks that found themselves in the hot seat, dragging the indices down. The downturn was fueled, in part, by a new 25% tariff on US automakers, coupled with jitters around “Liberation Day” on April 2nd, when reciprocal tariffs are anticipated.
Adding to the woes was a steep drop in the US Consumer Confidence Index, which plunged to its lowest level since 2020. This pointed to growing economic gloom. The Consumer Expectations Index also didn’t escape unscathed; it slipped below the critical threshold of 80—often a harbinger of a looming recession. Concerns about the economy’s direction are undeniably mounting.
