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Singapore Shares Open Lower Amid US Threat to Impose Tough Economic Sanctions on Iran

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Singapore stocks had another weak opening on Friday, as broader geopolitical uncertainty and rising crude oil prices weighed on regional risk sentiment.

The Straits Times Index opened lower by 0.45%, shedding 25.3 points, at 5,646.560.

US Treasury chief Scott Bessent said the US is poised to impose "the toughest sanctions in history" on Iran, as the two countries could not reach to an agreeable resolution to the Middle East crisis. Following the threat of economic sanctions on Iran, oil prices rose to more than a three-week high on Thursday.

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