Singapore shares closed the week in red, as regional indices ended mixed on Friday, with investors hoping for more interest rate cuts in the future.
The Straits Times Index $(STI)$, a key benchmark for the Singapore Exchange, ranged between 4,298.94 and 4,319.64 throughout the day. It ended the session at 4,302.71, down 9.91 points or 0.23% compared to Thursday's close.
In company news, shares of Advanced Systems Automation $(WJ9.SI)$ slumped over 14% at the close as it received a letter of demand from ASTI $(575.SI)$ for payments for corporate services and from a loan agreement.
Zixin $(42W.SI)$ was down over 3% as it agreed to grant an option to subscribe to up to 889,000,000 shares to investors in the company at an exercise price of SG$0.030 per share for a consideration of SG$1.
Meanwhile, shares of Boustead Singapore $(F9D.SI)$ were down over 1% after it agreed to divest various interests in certain Singapore logistics and industrial assets ahead of the proposed listing of UI Boustead REIT.
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