Singapore Shares Start Week in Red Despite Drop in Inflation; V2Y Shares Drop 7%

MT Newswires11-25 17:40

Singapore shares start the week in the negative territory despite a 2.1% year-on-year drop in core inflation.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,730.96 and 3,764.90 throughout the day. It ended the session at 3,731.39, down 14.63 points or 0.39% compared to Friday's close.

In economic news, Singapore's core inflation eased to 2.1% year-on-year in October, from 2.8% in September, as price pressures softened across services, electricity, gas, and retail goods, according to government data.

In company news, shares of V2Y Corp. (SGX:V2Y) fell nearly 7% on Monday's close, as it incorporated a stepdown subsidiary, Evertrust Distribution, through its wholly owned subsidiary, V2Y Pte.

City Developments (SGX:C09) was up over 2% at the close after the property developer sold 321 units during the third quarter of the year for a total sales value of SG$611.1 million.

Meanwhile, UOL Group (SGX:U14) closed nearly 2% higher on Monday, as the company exercised a call option to complete the acquisition of Thomson View Condominium, a residential site located at 1-17E Bright Hill Drive, Singapore.

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