Singapore Shares Tumble in Line With Asian Peers; NIO Sinks 6%; UOB Drops 3%

MT Newswires11-12

Singapore shares erased yesterday's gains on Tuesday to end in the negative territory, in line with declines seen across Asian indices as the US post-election rally failed to lift regional optimism.

The Straits Times Index fluctuated between 3,699.91 and 3,736.99 during the day. It ended the session at 3,711.48, down 27.99 points or 0.75% from Monday's close.

In corporate news, Avarga (SGX:U09) received an unconditional mandatory general cash offer of SG$0.25 per share from its executive chairman, Tong Kooi Ong, through a special purpose vehicle, TKO, sending the company's shares up more than 4% on market close.

ESR-LOGOS REIT (SGX:J91U) shares rose nearly 2% on Tuesday's close, as it issued 289,180,327 preferential offering units at an issue price of SG$0.305 per unit.

Food Empire (SGX:F03) closed 2% higher, as its revenue in the third quarter of the year rose 11.4% year over year to $118.9 million from $106.7 million.

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