Singapore Shares Rebound on US Interest Rate Cut Hopes; SAM Holdings Surges 40%; YZJ Shipbldg Gains 2%

MT Newswires2024-12-12

Singapore's stock market closed higher on Thursday in line with other regional indices following another record day on Wall Street, after mild inflation data fueled expectations of a US interest cut this month.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,785.36 and 3,812.36 throughout the day. It ended the session at 3,809.27, up 16.45 points or 0.43% compared to Wednesday's close.

In company news, shares of Singapore Institute of Advanced Medicine (SGX:9G2) surged nearly 40% on Thursday's close, as the company revealed that PwC, its external auditor, issued a disclaimer of opinion on the company's financial statements for the fiscal year ended June 30.

Fuxing China (SGX:AWK), however, fell nearly 5% at the close as its wholly owned subsidiary, Jade Star Group, entered into a conditional share purchase agreement with Liansheng New Materials for the disposal of its entire stake in Jinjian Jianxin Weaving.

Meanwhile, shares of Alset International (SGX:40V) closed flat, as the company's NASDAQ-listed subsidiary, HWH International, entered into a strategic partnership with Guangzhou Inbot Technology.

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