Singapore Shares Start Week in Black on Positive US Jobs Data; SingPost Shares Surge 17%

MT Newswires10-07

Singapore's stock market closed marginally higher on Monday to start the week in the positive territory, as global markets responded positively to US jobs data with the US economy adding 254,000 jobs during September.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,583.62 and 3,624.18 throughout the day. It ended the session at 3,599.19, up 10.06 points or 0.28% compared to Friday's close.

In company news, Shares of Capital World surged at 100% after its subsidiary, Capital City Property, entered into a non-binding agreement with Growth Development and Management for the sale of development rights and beneficial ownership of five properties for 25 million ringgit.

Shares of GS Hldg slumped over 23% after the company concluded valid acceptances and excess applications for a total of 747,319,082 rights shares, thus over-subscribing 31% of the 570,888,708 rights shares.

Koh Eco closed nearly 4% higher after the company fully utilized net proceeds worth SG$36.9 million raised from its share subscription deal.

SingPost rose 17%, Seatrium rose 5.5%, YZJ Shipbldg rose 2.4%, DBS rose 0.8%, SATS fell 1.8%.

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