Singapore Shares Surge as Factory Activity Expands; Yoma Strategic up 24%

MT Newswires12-03

Singapore's stock market soared on Tuesday, responding positively to the country's factory activity in November.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,778.40 and 3,800.16 throughout the day. It ended the session at 3,786.13, up 34.78 points or 0.93% compared to Monday's close.

In economic news, Singapore's manufacturing sector continued its growth streak in November, with the Purchasing Managers' Index (PMI) rising to 51.0 points from 50.8 in the previous month, according to data from the Singapore Institute of Purchasing and Materials Management.

In company news, shares of YZJ Shipbldg SGD were up over 3% after the shipbuilder secured new shipbuilding contracts worth $2.63 billion for 21 vessels.

Shares of SEMBCORP INDUSTRIES LTD were up over 2% after its wholly owned subsidiary, Sembcorp Power, signed a 15-year power purchase agreement with Equinix to supply up to 58.5 MWp from its Singapore renewable energy portfolio.

Meanwhile, SingShipping secured a five-year time charter for its M/V Boheme vessel with a "reputable" charterer.

Yoma Strategic rose 24%, YZJ Shipbldg rose 3.3%, DBS rose 2.3%, Nio rose 1.1%, UOB rose 1%.

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