Singapore Shares Rise Following Strong Friday Closing in US Market; Seatrium Surged Over 11%

MT Newswires05-27

Singapore's Straits Times Index rose on Monday, following a strong close of the week in US market, due to strong performance from generative artificial intelligence-linked stocks.

During the day, the benchmark Singapore Strait Times Index ranged between 3,053.36 and 3,324.07, ending 0.06% or 1.89 points higher at 3,318.45.

In company news, Seatrium shares surged over 11% following its announcement on Saturday that it has won $11 billion in new orders from longtime customer Petrobras.

shares of Geo Energy Resources (SGX:RE4) soared nearly 7% after its director, David Ya Kin Pung acquired 120,000 ordinary shares of the company.

Acesian Partners' (SGX:5FW) shares were down 2% after its wholly-owned subsidiary, Acesian Engineering, offered to buy an industrial property in Johor, Malaysia from All Security Technology for 8 million Malaysian ringgit.

Shares of Olam Group (SGX:VC2) surged nearly 6% after it repurchased 250,000 in the open market on Friday for SG$276,298.

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