US President Trump escalated tariffs on China, and the tariffs imposed by the United States on Mexico and Canada also took effect as scheduled, which triggered volatility in the Asia-Pacific stock market. On Tuesday (March 4), stock markets in many Asia-Pacific fell generally. The Singapore Straits Times index closed at 3890.76 points, down 18.16 points or 0.46%.

Against the backdrop of more uncertain international trade environment, two shipbuilding stocks, Yangzijiang Shipbuilding and Seatrium, suffered a setback, closing down 3.31% and 2.33% respectively.

Tokyo stock market fell the most, down 1.2%, followed by Taiwan’s 0.7% and Hong Kong’s 0.28%. Seoul and Sydney fell 0.15% and 0.68% respectively. Shanghai and Shenzhen closed slightly higher, with increases of 0.22% and 0.68% respectively.

The Singapore stock market traded 1.78 billion shares throughout the day, with a total transaction volume of 1.37 billion yuan. 182 rose and 359 fell.

Most of the Haixin Index constituent stocks closed down, with five rising, five flat and 20 falling.

Further reading

Trump swung tariffs again and Asian stocks fell 2%

Trump swung tariffs again and Asian stocks fell 2%

Analysis: Investors sway with Trump's policy stock markets are expected to remain volatile this week

Analysis: Investors sway with Trump's policy stock markets are expected to remain volatile this week

The biggest decline was Yangzijiang Shipbuilding, which closed at 2.34 yuan, down 3.31%, followed by DFI Retail Group (DFIRG), which fell 3.17% to US$2.14; Jardine C&C fell 2.52% to 25.9 yuan; Seatrium fell 2.33% to 2.1 yuan.

ST Engineering (ST Engineering) had the largest increase, at 2.73%, at 6.03 yuan. Huaye Group (UOL) rose 1.27% to RMB 5.58; Mapletree Industrial Trust rose 1.02% to RMB 1.99.