trade headlines.
Why should I care?
For markets: Tariffs set the mood, but results steal the show.
A higher US tariff floor raises the risk of weaker global demand, which typically hits exporters and industrial names first. But this session was driven by company-specific moves: Raffles Medical rose nearly 4% after 2H 2025 profit attributable to owners climbed 22% to SG$38.5 million, while KTMG fell more than 6% after warning of a loss for 2H 2025 and the full year. Wilton Resources jumped over 11% after a subsidiary sold 200 million shares in PT Wilton Makmur Indonesia at 40 Indonesian rupiah each via off-market trades.
The bigger picture: Lower inflation can buffer a bumpier trade cycle.
At 1.0% y/y, core inflation suggests price pressures are fading, which can support spending and reduce the odds of policy tightening. That matters if a 15% US tariff regime slows cross-border activity across Asia’s supply chains. Put together, steady equities and easing inflation point to a market that’s pricing trade risk, but not panicking about the home front.