Singapore Shares Close Higher Despite Weak Import/Export Data; Tianjin Pharmaceutical Surges 7%

MT Newswires09-30

Singapore's stock market closed relatively higher on Monday tracking gains in the global markets despite weak import/export data.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,566.00 and 3,594.20 throughout the day. It ended the session at 3,585.29, up 11.93 points or 0.33% compared to Friday's close.

In economic news, Singapore's Import Price Index fell 4.0% year on year in August, following a 0.4% decrease in the preceding month, according to the Department of Statistics.

Singapore's Manufactured Products Price Index decreased by 3.3% month-on-month in August, following a 2.6% drop in July, the city-state's Department of Statistics said.

In company news, shares of Tianjin Pharmaceutical Da Ren Tang Group (SHA:600329, SGX:T14) surged nearly 7% after the board approved the sale of a 13% stake in Tianjin TSKF Pharma to Haleon China for 1.75 billion yuan.

KSH's (SGX:ER0) was down over 1% as its wholly owned subsidiary, Kim Seng Heng Realty (KSHR) established a joint venture called Fusion Land with Ho Lee Group, Lian Beng Group and SLB Development.

Meanwhile, CapitaLand China Trust (SGX:AU8U) issued 16,010,485 units to its manager at an issue price of SG$0.9326 per unit as the base and performance component of the manager's management fee.

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