Singapore Shares Close Higher; ASL Marine Plunges 8%; Singapore Airlines Rises 1%

MT Newswires08-30

Singapore's stock market closed higher on Friday, tracking gains in the global markets backed by strong performances among technology shares.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,406.31 and 3,442.93 throughout the day. It ended the session at 3,442.93, up 38.46 points or 1.13% compared to Thursday's close.

In company news, shares of ASL Marine were down nearly 8% after it swung to a loss attributable to owners of SG$1.6 million in the quarter ended June 30, compared with a profit attributable of SG$10.1 million in the year-ago period.

Singapore Airlines (SIA) shares rose 1.13%. The flag carrier on Friday announced it received approval from India’s government for foreign direct investment into the entity resulting from the merger of its 49 per cent-associated company, Tata SIA Airlines – operating as Vistara – and Air India. Completion of the merger is now anticipated to occur by the end of the year, added the group.

Aspen Group was down over 4% after the company's loss attributable to owners narrowed 72% year over year to 56.3 million ringgit in the six months ended June 30 from 199.2 million ringgit.

Meanwhile, ESR-Logo REIT was up nearly 4% after the trust agreed to sell its industrial building property located at Tuas Bay Drive for a consideration of SG$35.0 million.

Sembcorp Industries rose 4.45%; Singtel rose 3.6%; Keppel rose 2%.

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