Singapore Shares Remain in Red as City-State Battles Global Energy Security Issues

MT Newswires04-29 18:18

Singapore shares remained in the red zone on Wednesday, with Singaporean investors assessing the true impact of the US-Iran war on the global energy security nexus.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,853.78 and 4,887.99 throughout the day. It ended the session at 4,860.97, down 26.72 points or 0.6% compared to Tuesday's close.

On the corporate front, shares of Pacific Radiance (SGX:RXS) were up over 5% at the close as it secured projects worth about SG$11 million.

Mapletree Industrial Trust (SGX:ME8U) closed over 4% lower as its distribution per unit or DPU fell 8% during the fiscal fourth quarter ended March 31 to SG$0.0309 from SG$0.0336 a year earlier.

Meanwhile, shares of Hong Leong Asia (SGX:H22) were down nearly 4% at the close even though it signed a placement agreement with CGS International Securities Singapore to procure subscriptions for 50 million new shares at SG$2.9 per share to raise SG$145 million.

STI down 0.6%; Nio up 7%; UOL up 1%; Singtel down 2%; SGX, SATS down 1%.

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