Singapore shares soared on Thursday, tracking regional gains as Asian equities responded positively to US President, Donald Trump's comments that countries prepared to invest in the US will be exempted from a 100% tariff on semiconductors.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,233.13 and 4,265.44 throughout the day. It ended the session at 4,258.15, up 30.45 points or 0.72% compared to Wednesday's close.
YZJ Shipbldg up 8%; CityDev, Keppel Reit up about 3%; DBS Group up nearly 2%; UOB down nearly 2%.
In economic news, Singapore's official foreign exchange reserves declined to SG$515.5 billion in July, from SG$515.8 billion in the preceding month, preliminary data from the Monetary Authority of Singapore showed.
In company news, shares of DBS Group (SGX:D05) were up nearly 2% at the close after the bank's net profit was up 1% in the second quarter of the year to SG$2.82 billion from SG$2.80 billion a year earlier.
United Overseas Bank's (SGX:U11) shares were down nearly 2% as the company's net profit was down 3% during the second half of the year to SG$2.83 billion from SG$2.91 billion a year earlier.
Meanwhile, shares of Beng Kuang Marine (SGX:BEZ) were down nearly 6% as the company's attributable profit declined by 66% during the half year ended June 30 to SG$2.9 million from SG$8.6 million a year earlier.
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