STI recovers as Trump de-escalates Greenland tariff threats

Markets breathed a sigh of relief as President Trump ruled out military force and tariff threats over the Danish territory.

Singapore’s stocks recovered on Thursday morning after US President Donald Trump signaled a de-escalation of tensions, backing away from threats to impose new tariffs on European allies over the status of Greenland.

At 2:15 p.m., the Straits Times Index settled at 4,829.34, increasing 0.4%, with around 1.31 billion shares worth $1.12b changing hands. Across the broader market, advancers outpaced decliners 318 to 231.

The market opened the day at 4,840.23, then fell to 4,822.44 at around 10:30 a.m. The index slowly climbed and went flat at the 4,833-level.

Trump walked back from threats to impose fresh tariffs as leverage to seize Greenland. He ruled out the use of force and suggested a deal was in sight to end a dispute over the Danish territory, a Reuters report said.

Other Asian markets reflected the improved performance, with the Shanghai Composite Index inching up 0.09% to 4,120.73, South Korea’s Kospi increased 0.86% to 4,951.94, and Japan’s Nikkei 225 increased 1.73% to 53,688.89. Meanwhile, Hong Kong’s Hang Seng Index was down 0.12% to 26,551.88.

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