Singapore Shares Incur Further Losses as Trump Doubles Down on EU Tariffs; PC Partners Zooms 21%

MT Newswires
Jan 20

Singapore shares continued to slide on Tuesday, tracking regional losses, as US President, Donald Trump, doubled down on following through with his tariffs threat on European countries that oppose his annexation of Greenland.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,808.93 and 4,842.45 throughout the day. It ended the session at 4,828.00, down 6.88 points or 0.1% compared to Monday's close.

European countries have thrown their support towards Denmark, backing Greenland's sovereignty.

In corporate news, shares of PC Partner zoomed nearly 22% at the close, with the company expected to book a net attributable profit of HK$450 million for the year ended Dec. 31, 2025, compared to a net attributable profit of HK$262 million a year earlier.

Boustead was down over 2% as its subsidiary, Boustead Projects through Boustead Industrial Fund, signed a framework deal with Jumbo Group of Restaurants for a potential investment in one of the properties owned by Boustead Industrial Fund.

Meanwhile, shares of OxPay Financial were up over 2% as it struck off its subsidiaries, Ffastpay and Oxpay Solutions.

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