Singapore Shares Start Week in Green; Advanced Systems Automation Slides 21%

MT Newswires07-29

Singapore's stock market ended high on Monday, despite a flat domestic price index as Wall Street stocks rose following better inflation data.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,437.95 and 3,461.19 throughout the day. It ended the session at 3,444.18, up 17.71 points or 0.52% compared to Friday's close.

In economic news, Singapore's Import Price Index fell 0.2% year on year in June, following the 1.5% drop in the preceding month, according to a report by the Department of Statistics.

Meanwhile, Singapore's Domestic Supply Price Index remained flat in June after a 0.6% decline in May, according to data released by the Department of Statistics Singapore.

In company news, shares of Advanced Systems Automation plunged nearly 21% after it allotted and issued 43,103,448 shares at SG$0.0232 per share with an aggregate principal value of SG$1.0 million on July 25 following the conversion of T1 bonds by Advance Opportunities Fund I.

Shares of Seatrium surged 8% after the company forecasted a net profit for the first half of the year.

Meanwhile, OUE Healthcare was down nearly 7% after the company said that it is expecting to book a loss attributable to shareholders in the first half of the year due to a one-off loss arising from the disposal of a vacant land in Kuala Lumpur, Malaysia.

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