Singapore Shares Show Resurgence Despite Interest Rate Concerns; Trendlines Group Surges 15%

MT Newswires11-28 17:37

Singapore's stock market recovered to surge on Thursday, despite fresh concerns over the outlook for interest rates and mixed overnight performances in the global markets.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,711.42 and 3,737.25 throughout the day. It ended the session at 3,737.25, up 29.16 points or 0.79% compared to Wednesday's close.

In company news, shares of The Trendlines Group (SGX:42T) surged nearly 15% after the company entered into an asset purchase agreement with Trendlines Labs to transfer its Trendlines Innovation Labs business division.

PEC (SGX:IX2) surged over 11% after the company revealed that it has been approached by a third party regarding a potential transaction involving its shares.

Meanwhile, Keppel DC REIT's (SGX:AJBU) shares were down nearly 1% at the close after its manager, Keppel DC REIT Management, issued 334,929,000 private placement units at an issue price of SG$2.090 per unit.

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