Haitong Securities: The worst-case scenario for the Singapore stock market is "beginning to manifest" in the Iran conflict.

Paul Chew, from the research department of Huili Securities, stated in a commentary that the worst-case scenario for the Singapore stock market is gradually emerging in the Iran conflict. The head of research pointed out that the Strait of Hormuz has effectively been closed, impacting the energy market and causing oil tanker freight rates to skyrocket. Chew added, "Asian economies will be negatively affected, with Japan's dependence on Gulf region crude oil reaching as high as 90%." He further stated that tactical trades or hedges to counter the deteriorating tail risk include oil and gas service providers like Marco Polo Marine, shipyards like Sembcorp Marine, equipment manufacturers, drilling platform owners, oil tanker owners, natural gas trading companies, and commodity producers. The Strait Times Index fell by 2.2% to 4,740.59 points.