Singapore Shares Close Lower on Wednesday; SIA Rises 1%; SingPost Jumps 6%

MT Newswires10-16

Singapore's stock market closed lower on Wednesday, tracking overnight losses in global markets.

The Straits Times Index fluctuated between 3,590.62 and 3,614.57 throughout the day. The session ended at 3,590.62, down 4.85 points or 0.13% compared to Tuesday's close.

In corporate news, shares of Tiong Seng Holdings (SGX:BFI) surged over 12% after the company launched its flagship Watermark Tiong Seng Lifestyle Center in Tianjin, China, through its wholly foreign-owned entity, Tiong Seng Silvercare.

GSH Corp. (SGX:BDX) was down nearly 1% after it fully utilized SG$83.5 million in net proceeds the company raised from its rights issue.

Meanwhile, Food Innovators (SGX:KYB) debuted on the Catalist Board at SG$0.2 per share, below its initial public offering price of SG$0.22 per share.

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