Singapore Shares Track Global Gains to Start Week Marginally in Black; Travelite Surges 25%

MT Newswires07-15

Singapore's stock market closed marginally higher on Monday to start the week in black, tracking global gains backed by optimism that the US Federal Reserve will cut interest rates in September.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,491.230 and 3,509.20 throughout the day. It ended the session at 3,499.89, up 2.11 points or 0.06% compared to Friday's close.

In company news, shares of Travelite (SGX:BCZ) surged nearly 25% after the company booked an attributable profit to the owners of SG$2.7 million for the year ended March 31, down from an attributable profit of SG$3.4 million in the year-ago period.

Vividthree (SGX:OMK) closed nearly 21% higher on Monday's close as it entered into separate share subscription agreements with various subscribers for the allotment and issuance of 92,592,592 shares at an issue price of SG$0.027 for a total of SG$2.5 million.

ValueMax (SGX:T6I) shares were up 1% on market close, as the company provided an update on the proposed listing of Well Chip on the Main Market of Bursa Malaysia Securities.

SingPost rose 2.25%, Singtel rose 2%, Nio rose 0.6%, SIA rose 0.4%.

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