U.S. stocks suffered a decline this week due to tariff uncertainties, marking their worst weekly performance since early September. Shares in South Korea, Japan, Hong Kong and Malaysia followed suit while Australian stocks took the biggest hit falling 1.8% to a 10-week low.
Stock Highlights of the Week
STI Performance
The benchmark Straits Times Index (SGX: ^STI) closed at 3,914.48 this week, inching down 0.1 per cent or 2.58 points.
UOL Group Limited (SGX: U14)
The top gainer on the STI this week, UOL Group’s share price rose by 1.6 percent or S$0.09 to S$5.81. This gain follows the release of the group’s third-quarter 2024 earnings with a reported revenue of S$2.79 billion and earnings of S$358.2 million.
Hongkong Land Holdings Ltd (SGX: H78)
The property giant posted an underlying profit of US$410 million for the financial year ended Dec 31, 2024, down 44 per cent from US$734 million a year ago. The group’s financial position remains strong, with a pipeline of ultra-premium properties under development, its share price fell 2.6 per cent or US$0.12 to US$4.46, making it the top loser at close of market on 7 March 2025.
Singapore Banks
Reflecting the unpredictability of tariff negotiation outcomes, share prices of Singapore’s banks were mixed with DBS up 0.04 per cent to $45.98 and UOB ahead 0.1 per cent to $38.63, but OCBC lost 0.2 per cent to $17.16.
US Markets: Worst Week Since September 2024
US markets have been hit with yet another wave of uncertainties over US President Donald Trump’s flip-flop back pedalling tariff policies regarding trade with Mexico, Canada and China.
While markets closed slightly higher on 7 March 2025 following Federal Reserve Chair Jerome Powell’s comment that the economy was “in a good place,” but uncertainty about U.S. trade policy led to Wall Street’s biggest weekly decline in months.
US Stock Highlights
Hewlett Packard Enterprises (NYSE: HPE)
Share price of the AI-server marker fell 13% on Friday as it announced that its annual profit forecast would be hit by U.S. tariffs in an intensely competitive market. It has also said that jobs would be cut amidst stiff competition from rivals Dell and Super Micro Computer.
Costco Wholesale Corp (NASDAQ: COST)
Costco fell 6% after the retailer missed Wall Street estimates on quarterly earnings as merchandise costs increased. The membership-only retailer would consider making changes to its international supply chain if tariffs lead to big price hikes and source from countries not affected by the policies.
Broadcom Inc (NASDAQ: AVGO)
Broadcom’s stock soared 6% on Friday 7 March 2025 following the company’s upbeat revenue forecast reviving investor confidence in AI chip demand. Broadcom’s software revenue grew 47% in the first quarter to $6.70 billion, representing more than 40% of total sales.
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Disclosures: Joanna Sng of The Smart Investor owns shares in DBS, OCBC and UOB.
