Singapore Shares Close Higher Despite Global Market Uncertainty; Mencast Slides 8%

MT Newswires06-25

Singapore shares managed a small gain on Tuesday, despite a mixed performance in the US market and Europe's focus on the French parliamentary elections.

During the day, the benchmark Singapore Strait Times Index ranged between 3,309.68 and 3,329.24, ending 0.37% or 12.14 points higher at 3,326.28.

In company news, shares of Mencast Holdings (SGX:5NF) were down nearly 8% after the company's subsidiary, Mencast Offshore & Marine, was recently cited in a news article in relation to an oil spill cleanup operation.

Sabana Industrial REIT (SGX:M1GU) were up nearly 2% after HSBC Institutional Trust Services, as trustee of its shares, filed for the listing of SG$100 million worth of 4.15% sustainability-linked guaranteed bonds due 2029.

Meanwhile, Singapore Post's (SGX:S08) shares were down over 1% after its subsidiary, SingPost Logistics and Famous Holdings (FHPL) entered into a settlement agreement with Tan Ho Sung in relation to various disputes including a share purchase agreement and shareholders' agreement.

Nio rose 2%, UOB rose 1%, OCBC rose 0.7%.

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