Singapore Shares Jump Nearly 1% Following Positive GDP Growth in Q2; Yangzijiang Shipbuilding Surges 15%

MT Newswires08-13

Singapore's stock market closed higher on Tuesday, following a positive gross domestic product growth in Q2 with one eye on the upcoming US inflation data.

Straits Times Index, a key benchmark for the Singapore Exchange, ranged between 3,242.03 and 3,270.45 throughout the day. It ended the session at 3,258.57, up 23.19 points or 0.72% compared to Monday's close.

Singapore narrowed its GDP growth forecast for 2024 to 2% to 3% from a previous range of 1% to 3%, as per data released by Singapore's Ministry of Trade and Industry.

In company news, shares of YZJ Shipbldg SGD surged nearly 15% after the company disclosed a 77% increase in attributable profit to 3.06 billion yuan for the first half of 2024.

COSCO SHP SG was up nearly 4% in Singapore at close, as the company's profit attributable to equity holders rose 16% to SG$2.3 million in the first half from SG$2.0 million a year ago.

TC Auto stocks rose 4% despite the company reporting a widened loss in H1.

Seatrium rose 1.4%, SingPost rose 1.2%; Nio rose 0.8%; OUE fell 1%.

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Comments

  • CJCJ
    08-13
    CJCJ
    boring market as usual. Waste of time.
  • Erictanmx
    08-13
    Erictanmx
    How will Seatrium jump... looks like a falling knife
  • Jamesang
    08-13
    Jamesang
    Seatrium will jump 15% like yzj shipbuilding
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