Singapore Shares Remain in Red Despite Regional Gains; iFast and NIO Gain 2%

MT Newswires09-16

Singapore shares remained marginally lower on Tuesday, despite the regional indices clocking gains on the possibility of a US interest rate cut this week.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,322.43 and 4,347.12 throughout the day. It ended the session at 4,337.74, down 0.68 points or 0.02% compared to Monday's close.

In company news, shares of XMH (SGX:BQF) were up nearly 4% at the close as it agreed to dispose of a 14.8% stake in Mech-Power Generator to Mitsubishi Heavy Industries (TYO:7011) for SG$12.3 million.

GuocoLand (SGX:F17) was up nearly 1% as its subsidiary, GLL IHT, priced SG$200 million worth of 2.30% bonds due 2029.

Meanwhile, shares of ISOTeam (SGX:5WF) were down over 1% after the company said that it expected to raise about SG$3 million through a convertible bond subscription agreement.

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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