Singapore Shares Close Higher; Asiaphos Surges 25%

MT Newswires08-19

Singapore's stock market finished slightly higher on Monday, following gains in the global markets on Friday, coupled with Prime Minister Lawrence Wong's speech on his first National Day Rally.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,340.37 and 3,376.89 throughout the day. It ended the session at 3,355.56, up 2.67 points or 0.08% compared to Friday's close.

In company news, shares of Asiaphos (SGX:5WV) surge 25% after the company agreed to acquire a 51% stake in Singapore-based fertilizer wholesale company, Velora

Sri Trang Agri's (SGX:NC2) was up nearly 3% after the company's second-quarter profit attributable to equity holders surged 471.3% year-over-year to 628.4 million baht from 110.0 million baht.

Meanwhile, shares of China Sunsine (SGX:QES) were up nearly 3% after the chemicals company bought back 100,000 shares in the open market, for SG$38,079 or SG$0.38 apiece.

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