Asia stocks extend global rout on Trump tariff shock, recession fears; STI closes down 3%
TOKYO – Asian share markets sank again on April 4, deepening a global rout after US President Donald Trump’s tariff salvo fanned fears of a trade war and worldwide recession.
Singapore’s Straits Times Index tumbled almost 3 per cent, or 116.37 points, to close at 3,825.86. Deputy Prime Minister Gan Kim Yong said on April 3 the sweeping tariffs will have a significant impact on Singapore.
Japan’ stocks entered a bear market, with the Nikkei 225 index down 20 per cent from its peak in July. The index closed down 2.75 per cent for the day, making for a 9 per cent drop for the week.
Australia’s S&P/ASX 200 slid 2.4 per cent, while South Korea’s Kospi index lost 0.9 per cent.
Markets were closed on April 4 in China, Hong Kong and…
