Singapore Shares Dip as Regional Indices Decline; Singtel Falls 3%

MT Newswires2024-12-06

Singapore's stock market closed lower on Friday, mirroring losses in the regional and global markets.

The STI.SI, a key benchmark for the Singapore Exchange, ranged between 3,796.16 and 3,816.17 throughout the day. It ended the session at 3,796.16, down 26.52 points or 0.69% compared to Thursday's close.

In company news, shares of Suntec Reit surged over 5% after Aelios made a mandatory conditional cash offer to buy the remaining units it does not own in the REIT.

HongkongLand USD was up nearly 1% after a Bloomberg report revealed that the property developer is mulling the sale of its Singapore-based property development unit, MCL Land.

Meanwhile, shares of SingPost 's were down nearly 3% at the close after S&P Global Ratings placed a 'BBB' long-term issuer credit rating and its 'BB+' rating on the company's SG$250 million subordinated perpetual securities on CreditWatch with negative implications.

Singtel fell 3%, SingPost fell 2.5%, Yoma Strategic fell 2.4%, DBS fell 1.3%, UOB fell 1%; YZJ Shipbldg rose 2%.

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