Singapore Shares Fall Despite Wall Street Recovery; YZJ Shipbldg Slumps 4%

MT Newswires08-12

Singapore's stock market closed lower on Monday, despite Wall Street stocks ending higher on Friday amid fresh hopes that the US Federal Reserve will cut interest rates at least once this year.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,229.20 and 3,266.98 throughout the day. It ended the session at 3,235.38, down 26.45 points or 0.81% compared to Friday's close.

In company news, shares of Pollux Prop slumped nearly 12% after the company flagged a loss for the first half of the year.

Shares of Prime US ReitUSD were up over 4% after its wholly owned subsidiary, Prime US-Lower Tier, entered into a secured credit facility agreement for a total of $550 million.

Meanwhile, LS 2 Holdings was up over 5% after the company's comprehensive income attributable to equity holders surged 173% year over year in H1 to SG$1.6 million from SG$599,575.

DBS rose 1.2%, SIA rose 0.3%; YZJ Shipbldg fell 4%, Singtel fell 2.7%, Seatrium fell 1.4%.

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