Singapore Stocks Begin Week in Red as US-Iran Ceasefire Unravels

MT Newswires

07/13

Singapore stocks opened lower on Monday as renewed U.S.-Iran strikes escalated tensions in the Middle East, sending oil prices higher and weighing on investor sentiment.

The Straits Times Index slid 0.3%, or by 16.9 points, to open at 5,452.36.

The U.S. carried out new strikes on Iranian military targets over the weekend, while Iran reportedly attacked commercial vessels transiting the Strait of Hormuz and claimed to have closed the strategic waterway, fueling concerns over global energy supplies and lifting oil prices.

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