Singapore Shares End Flat Following Mixed Performances in US, Europe

MT Newswires07-24

Singapore's stock market closed flat on Wednesday, as US and European markets posted mixed overnight performances.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,443.58 and 3,463.86 throughout the day. It ended the session at 3,460.82, down 0.34 points or 0.01% compared to Tuesday's close.

In local news, Pfizer launched a SG$1 billion active pharmaceutical ingredient plant in Tuas Biomedical Park, Singapore, The Singapore Business Review reported Tuesday. The 429,000-square-foot facility will produce APIs for oncology, pain, and antibiotic medicines, creating over 250 jobs, the report said.

In company news, shares of Trans-China Automotive (SGX:VI2) were down over 1% after the company flagged a "materially larger" net loss for the first half of the year, versus a year ago.

Sabana Industrial Real Estate Investment Trust (SGX:M1GU) was up over 1% after it posted a distribution per unit of SG$0.0134 for the first half of 2024, down nearly 17% from SG$0.0161 in the year-ago period.

Kim Heng (SGX:5G2) was down over 1% after it made an application to the Suruhanjaya Syarikat Malaysia for the striking off of its wholly owned subsidiary, Adira Solar, from the Register of Companies.

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