Singapore Shares Start 2025 in Green as GDP Grows 4.3% in Q4 2024; Yoma Strategic Rises 10%

MT Newswires01-02 18:11

Singapore's stock market kicked off 2025 on a positive note, even as the Wall Street lost ground on Tuesday, before the New Year break.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,780.46 and 3,800.81 throughout the day. It ended the session at 3,800.81, up 13.21 points or 0.35% compared to Tuesday's close.

In economic news, Singapore's GDP was up 4.3% year-on-year during the fourth quarter of 2024, albeit slower than the 5.4% growth in the previous quarter, based on advanced estimates released by the Ministry of Trade and Industry.

Meanwhile, overall housing prices in Singapore increased by 2.3% quarter over quarter in the fourth quarter of the year, bringing the price gain to 3.9% for the whole of 2024, according to flash estimate released by the Urban Redevelopment Authority.

In company news, shares of The Trendlines Group (SGX:42T) were down nearly 4% after the company revealed that it is conducting a potential misappropriation of funds from the accounts of its subsidiary, Trendlines Agrifood Innovation Centre.

NIO (SGX:NIO, HKG:9866) delivered 31,138 vehicles in December, up 73% from a year earlier. Its shares closed 1% lower on Thursday in Singapore.

Meanwhile, shares of Samudera Shipping Line (SGX:S56) were up over 1% after the company increased its investments in two subsidiaries by increasing the total share capital of each.

Yoma Strategic rose 10%, ThaiBev rose 3%, SingPost rose 2%, DBS rose 0.6%; SGX fell 2%, Nio fell 1%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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