Market View: Trump announces 10% universal tariffs on top of additional duties for certain countries; Asian markets tumbled on the news; STI bucked regional trend; China, EU to retaliate; Gold hits re

Singapore’s shares bucked the regional trend today as Asian markets fell hard on the back of US President Donald Trump’s “Liberation Day” tariffs. The country imposes no tariffs on US products under the US-Singapore Free Trade Agreement and was only subject to the baseline 10 per cent rate. The Straits Times Index (STI) was relatively little moved, falling about 0.5 per cent shortly after the open.  In terms of companies to watch, we have OCBC after the bank announced yesterday that it plans to deploy £10 billion (S$17.4 billion) in financing over the next six years to support foreign direct investment into the UK.  Elsewhere, from the impact of US tariffs on key Asian markets such as Japan, South Korea and China, to the implications of possible retaliation by the US largest trading partners – more international headlines remain in focus.  Also on deck, how gold hit a record high today as investors rushed towards the safe haven asset. On Market View, Money Matters’ finance presenter Chua Tian Tian dived into the details with David Chow, Director, Azure Capital. See omnystudio.com/listener for privacy information.