Singapore Shares Close Higher. iFast, YZJ Shipbldg up More Than 4%; Seatrium up 3%; UOB Bank; DBS Group, SIA up over 1%

MT Newswires05-13

Singapore shares tracked regional gains on Tuesday to close higher after US and China agreed on a deal to slash reciprocal tariffs for a 90-day period, taking them down by 115%, with US President Donald Trump claiming the deal a "total reset" in relations with Beijing.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,881.05 and 3,956.26 throughout the day. It ended the session at 3,881.05, up 4.89 points or 0.13% compared to Friday's close.

Financial markets in Singapore were closed on Monday for a public holiday.

iFast, YZJ Shipbldg up more than 4%; Seatrium up 3%; UOB Bank; DBS Group, SIA up over 1%.

In company news, shares of Yamada Green Resources (SGX:BJV) surged over 16%, as one of its subsidiaries agreed to acquire a four-story building and the land it is built on in Japan's Osaka City for 156 million yen.

Zixin Group (SGX:42W) was up over 3%, as the company forecasted a significantly higher net profit for the fiscal year ended March 31, as compared to a year ago.

Meanwhile, shares of Seatrium (SGX:5E2) were up nearly 3% at the close, as the company secured a floating storage regasification unit (FSRU) conversion contract from Norway-based Hoegh.

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