Singapore Shares Remain in Red. Top Glove up 5%; Sats, SIA up Within 1%; iFast, SIA Engineering Down over 1%; CMS, OUEREIT Down over 2%

MT Newswires12-18

Singapore shares remained rooted in the red zone on Thursday, tracking regional losses as investors reacted to the prospect of the US Federal Reserve pausing interest rate cuts next month.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,561.14 and 4,582.15 throughout the day. It ended the session at 4,570.61, down 4.87 points or 0.1% compared to Wednesday's close.

Top Glove up 5%; Sats, SIA up within 1%; iFast, SIA Engineering, YZJ Fin Hldg down over 1%; CMS, OUEREIT down over 2%.

In corporate news, shares of King Wan were up nearly 4% at the close, as it proposed to raise around SG$3.5 million via the placement of 70 million shares.

Raffles Education (SGX:NR7) slipped nearly 3% at the close, as it issued 155,384 conversion shares at SG$0.065 per share to raise around SG$10,100.

Meanwhile, shares of Acrophyte Hospitality Trust (SGX:XZL) were down nearly 2%, as its subsidiary, ARA USH Chicago, agreed to sell the Hyatt Place Memphis Primacy Parkway in Memphis, US, to Shivam Patel, for $7.8 million.

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