Singapore Shares Fall as US Presidential Election Race Heats Up; Japan Foods Shares Slide 7%

MT Newswires10-28

Singapore's stock market started the week in red, as global markets booked mixed results over the weekend ahead of the US presidential election.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,583.89 and 3,599.70 throughout the day. It ended the session at 3,584.08, down 9.33 points or 0.26% compared to Friday's close.

In company news, the Singapore-listed shares of Japan Foods (SGX:5OI, TYO:2599) slumped over 7% after the company said that it is expecting to book a loss for the fiscal half of 2025.

GS Holdings (SGX:43A) was down over 4%, as the food and beverages company signed a binding agreement to acquire Singapore based beverage solutions company, Octopus Distribution Networks, for SG$11.8 million.

Meanwhile, iFast's (SGX:AIY) shares were down over 1% at the close even after the company's profit attributable to owners surged 97% year over year to SG$16.8 million from SG$8.5 million in the third quarter of the year

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