Singapore Shares Incur Losses. STI Falls 0.4%; Singapore Land Group, Pacific Century, YZJ Shipbldg USD up About 2%; DBS, iFast Down Within 1%; Keppel, Singtel Down over 1%

MT Newswires12-04

Singapore shares incurred losses on Thursday, with the region showcasing mixed fortunes even though the latest US data raised expectations of the Federal Reserve cutting down the interest rates next week.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,531.85 and 4,561.21 throughout the day. It ended the session at 4,535.14, down 19.38 points or 0.4% compared to Wednesday's close.

Singapore Land Group, Pacific Century, YZJ Shipbldg USD up about 2%; DBS, iFast down within 1%; Keppel, Singtel, Mapletree Log Tr down over 1%.

In company news, shares of Malaysia Smelting (SGX:NPW, KLSE:MSC) were up over 4% as the company revealed that mining operations at its 80% owned subsidiary, Rahman Hydraulic Tin, Malaysia, resumed on Dec. 4.

Singapore Land's (SGX:U06) shares were up nearly 3% as its indirect subsidiary, Marina Residential Development, signed four agreements to acquire a land parcel for around SG$99.1 million.

Meanwhile, shares of Raffles Education (SGX:NR7) slumped nearly 2% after it allotted and issued around 12.4 million conversion shares at SG$0.065 per share for an aggregate amount of SG$809,200.

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