Singapore Shares Finish Muted; Accrelist Plunges 13% After M&A Deal

MT Newswires06-26

Singapore shares finished muted on Wednesday despite an improvement in the country's manufacturing output for May.

During the day, the benchmark Singapore Strait Times Index ranged between 3,317.07 and 3,317.07, ending 0.16% or 5.42 points higher at 3,331.70.

In economic news, Singapore's manufacturing output increased 2.9% year over year in May, EDB Singapore reported.

Shares of Accrelist (SGX:QZG) plunged nearly 13% after it agreed to acquire a 28.53% stake in Malaysia-listed McLean Technologies (KLSE:MCLEAN).

G.H.Y Culture & Media (SGX:XJB) was down over 2% after it repurchased 500 shares on Tuesday for SG$1423 or SG$0.23 per share.

Meanwhile, Sabana Industrial Real Estate Investment Trust (SGX:M1GU) was down over 1% after it issued and listed SG$100.0 million worth of 4.15% sustainability-linked bonds due 2029.

Nio rose 1.6%, Singtel rose 1.5%, ST Engineering rose 1.2%, Seatrium fell 1.3%, SingPost fell 1.1%.

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