Singapore Shares Fall Amid Potential Escalation of Sino-US Trade Conflicts

MT Newswires07-18

Singapore's shares fell into the negative territory on Thursday, mirroring other regional indices after the S&P 500 and the Nasdaq tumbled on Wednesday amid potential escalation of US' trade conflicts with China.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,463.64 and 3,477.64 throughout the day. It ended the session at 3,471.16, down 18.41 points or 0.53% compared to Wednesday's close.

In company news, UMS Holdings (SGX:558) was up nearly 3% after it revealed that the company is looking at a secondary listing of its entire issued shares on the main market of Bursa Malaysia Securities.

SIA Engineering (SGX:S59) was down nearly 1% after it signed a memorandum of understanding with SATS Airport Services, a wholly owned subsidiary of SATS (SGX:S58), to start a proof of concept on the use of autonomous buses at the Changi Airport airside.

Shares of Lum Chang (SGX:L19) were up nearly 2% after it repurchased 31,300 shares in the open market for SG$9,125 or SG$0.29 apiece.

Singtel rose 1.3%, Nio fell 4%, YZJ Shipbldg fell 3%, DBS fell 1%, SIA fell 0.7%.

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