Singapore Shares Incur Further Losses as Europe Squares Up to Trump Threats; China Kunda Technology Surges 11%

MT Newswires01-21 18:21

Singapore shares continued to slide on Wednesday, tracking mixed regional signals, as the European Parliament planned to suspend its trade deal with the US.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,790.43 and 4,814.77 throughout the day. It ended the session at 4,809.88, down 18.12 points or 0.4% compared to Tuesday's close.

The suspension of the trade deal is another chapter in the escalation in tensions between the US and Europe on US President, Donald Trump's aspirations to acquire Greenland.

In company news, shares of China Kunda Technology (SGX:GU5) surged nearly 11% at the close as its subsidiary, Kunda Plastic Electronic (Shenzhen), agreed to establish a water treatment joint venture in China with Shenzhen Yidaoshun Biotechnology.

Ley Choon (SGX:Q0X) surged over 14% as it was granted an in-principle approval by the SGX-ST for its proposed transfer to the Mainboard of the Singapore Exchange.

Meanwhile, Aspial Lifestyle (SGX:5UF) issued SG$25.0 million worth of 5.1% bonds due 2029 under its SG$300 million multicurrency medium-term bond program.

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