Geopolitical De-escalation Hopes Lift Singapore Shares; Frencken Group Closes 8% Lower

MT Newswires05-19

Singapore shares extended their winning streak on Tuesday, despite mixed regional showings, as hopes of a peace deal between the US and Iran were lifted following comments made by the US President Donald Trump.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,001.85 and 5,072.34 throughout the day. It ended the session at 5,072.34, up 75.59 points or 1.5% compared to Monday's close.

Trump disclosed that a planned military strike against Iran had been deferred following direct intervention and mediation requests from Qatar, Saudi Arabia, and the UAE.

On the corporate front, shares of Frencken Group (SGX:E28) closed nearly 8% lower, as its profit attributable to equity holders fell 20% during the first quarter of the year to SG$8 million from SG$10 million a year earlier.

Ever Glory United (SGX:ZKX) was up nearly 4%, as it secured new contracts worth SG$230 million, taking the company's total order book to more than SG$900 million.

Meanwhile, shares of Geo Energy Resources (SGX:RE4) closed over 4% lower, as it signed non-binding agreements to support the operations and development of Harfa Taruna Mandiri, the Indonesian mine operator it intends to buy.

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It ended the session at 5,072.34, up 75.59 points or 1.5% compared to Monday&#39;s close.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/1f7432b23fbf62f13e4a9a1cc945da4f\" tg-width=\"361\" tg-height=\"651\"/></p><p>Trump disclosed that a planned military strike against Iran had been deferred following direct intervention and mediation requests from Qatar, Saudi Arabia, and the UAE.</p><p>On the corporate front, shares of Frencken Group (SGX:E28) closed nearly 8% lower, as its profit attributable to equity holders fell 20% during the first quarter of the year to SG$8 million from SG$10 million a year earlier.</p><p>Ever Glory United (SGX:ZKX) was up nearly 4%, as it secured new contracts worth SG$230 million, taking the company&#39;s total order book to more than SG$900 million.</p><p>Meanwhile, shares of <a href=\"https://laohu8.com/S/GEO\">Geo</a> Energy Resources (SGX:RE4) closed over 4% lower, as it signed non-binding agreements to support the operations and development of Harfa Taruna Mandiri, the Indonesian mine operator it intends to buy.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GAB.SI","symbol_name":"Amova STI ETF S$A","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2636883415","we_media_id":"1060499803","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2636883415","pubTimestamp":1779183229,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"MT Newswires","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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