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Singapore Shares Open Lower Amid Renewed US-Iran Tensions

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Singapore stocks opened lower on Friday as renewed tensions between Washington and Tehran weighed heavily on market sentiment.

The STI, a key benchmark for the Singapore Exchange, declined in early trade by 0.1%, or 6.029 points, to open at 5,427.850.

A dramatic drop in the number of ships crossing the Strait of Hormuz after the U.S. and Iran resumed strikes led investors to adopt a wait-and-watch approach.

The U.S. and Iran exchanged fresh strikes on Thursday, with the former saying it hit 90 military targets, including some near the Strait of Hormuz.

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