STI falls 0.3% as rising US-China tension worsens

SINGAPORE shares closed lower on Thursday over escalating US-China spat and downbeat data. The Straits Times Index closed marginally lower by 6.60 points or 0.26 per cent to 2,555.34.

Key gauges across the region were also in the red while Taiwan and South Korea bucked the general downward trend as hopes over re-opening of economies were tempered by geopolitical worries and more ugly trade figures.

"With the war of words between both sides (US and China) unlikely to subside anytime soon, eyes will be towards whether the current tensions will escalate beyond trade and should it, there will be more downside pressure for global indices," said Phillip Futures analyst Samuel Siew.