Singapore stocks hit another record high
Singapore equities performance since the start of the year
Singapore’s benchmark Straits Times Index scaled to another new high Thursday, notching its fourth straight day of gains.
The country’s equities climbed 0.47% to hit a fresh record of 4,077.41 points Thursday as of 11.24 a.m., data from LSEG showed.
—Lee Ying Shan
Trump says 50% tariff on copper will begin Aug. 1
U.S. President Donald Trump said Wednesday that the 50% tariff on copper imports, which he had announced the previous day, will take effect on Aug. 1.
The decision was made after he received a national security assessment, Trump said in a post on Truth Social.
“I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT,” Trump wrote.
“Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many. Copper is the second most used material by the Department of Defense.”
Read the full story here.
— Victor Loh
Bank of Korea expectedly keeps rates steady at an almost three-year low
South Korea’s central bank held its policy rate at 2.5%, keeping it steady at an almost three-year low.
South Korea’s economy contracted by 0.2% quarter on quarter in the first three months of this year due to weak construction activity and softening export growth, while it remained flat on an year on year basis.
Read the full story here.
— Lim Hui Jie
Asia-Pacific stock markets open in mixed trading
Asia-Pacific stock markets kicked off the trading day mixed.
Japan’s benchmark Nikkei 225 slipped 0.45% at the open, while the Topix lost 0.54%. South Korea’s Kospi climbed 0.24% and the small-cap Kosdaq rose 0.44%.
Australia’s S&P/ASX 200 was 0.51% higher.
—Lee Ying Shan
Opening calls from sunny Singapore
Good morning from Singapore! Asia-Pacific markets are set to open mixed.
Japan’s benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 39,925 while its counterpart in Osaka last traded at 39,910 against the index’s Tuesday close of 39,821.28.
Futures for Hong Kong’s Hang Seng index stood at 23,863 pointing to a slightly weaker open compared to the HSI’s last close of 23,892.32.
Australia’s S&P/ASX 200 was also set to start the day slightly higher with futures tied to the benchmark at 8,571, compared to its last close of 8,538.6.
— Lee Ying Shan
Stock futures open little changed
U.S. stock futures were relatively unchanged on Wednesday evening.
S&P 500 futures hovered around the flatline just after 6 p.m. ET, as did Nasdaq 100 futures. Futures tied to the Dow Jones Industrial Average were likewise flat.
— Sean Conlon
Nasdaq Composite notches new all-time closing high
The Nasdaq Composite closed at an all-time record high on Wednesday afternoon.
The tech-heavy index rose 0.94%, ending at 20,611.34. The S&P 500 added 0.61%, finishing at 6,263.26. The Dow Jones Industrial Average gained 217.54 points, or 0.49%, and settled at 44,458.30.
— Lisa Kailai Han