Singapore Shares Fall As Federal Interest Rate Cut Hopes Dim; China Mining Up 29%

MT Newswires06-11

Singapore's Straits Times Index was down on Tuesday closing after strong US jobs figures dimmed hopes of an early Federal interest rate cut.

During the day, the benchmark Singapore Strait Times Index ranged between 3,303.24 and 3,332.60, ending 0.39% or 12.87 points lower at 3,309.21.

In economic news, the Business Sentiment Index in Singapore rose further in the third quarter as the wholesale sector saw slight improvements in optimism levels, according to a press release by the Singapore Commercial Credit Bureau (SCCB).

In company news, shares of China Mining (SGX:BHD) surged nearly 29% after the company appointed Guo Wenjun as the companyâs new chief executive officer, effective June 28.

In company news, shares of Eurosports Global (SGX:5G1) shares surged over 10% after it bought back 20,000 shares in the open market on Monday for SG$2,905 or SG$0.143 apiece.

Shares of iX Biopharma (SGX:42C) were up nearly 3% after the company revealed that it is looking to raise nearly SG$5 million through a renounceable non-underwritten rights share and warrant issue of up to around 172.3 million new ordinary shares and 86.2 million warrants, respectively.

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