Singapore Shares Surge Despite Mixed Regional Performance Due to Iran-Israel Conflict; SingPost up 2%

MT Newswires06-17

Singapore shares recovered to close higher on Tuesday even as some Asian markets flashed red in response to the Iran-Israel conflict.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,915.57 and 3,931.81 throughout the day. It ended the session at 3,930.64, up 22.18 points or 0.57% compared to Monday's close.

In economic news, Singapore's non-oil domestic exports or NODX, fell 3.5% year over year in May, reversing a 12.4% increase in the previous month, according to data released by Enterprise SG.

Shares of BBR (SGX:KJ5) were up nearly 5% at the close with the company securing contracts worth SG$220 million.

Baker Technology (SGX:BTP) was down over 4% with the company expecting to book a net loss for the first half of the year compared with a net profit a year earlier.

Meanwhile, shares of Q & M Dental Group (SGX:QC7) were down over 1% after its takeover offer for Aoxin Q & M Dental (SGX:1D4) closed Monday, June 16.

STI up 0.6%; SingPost up 1.8%; YZJ Shipbldg up 1.3%; SATS, SGX up 1%; DBS up 0.7%; OCBC up 0.4%.

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