Singapore Shares End Week Higher On Optimism Over AI Demand

MT Newswires17:42

Singapore shares closed the week on a high, ending Friday in the green zone on renewed optimism over AI driven demand.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,412.51 and 5,472.10 throughout the day. It ended the session at 5,469.29, up 35.41 points or 0.7% compared to Thursday's close.

On the corporate front, shares of Foundation Healthcare (SGX:FHH) closed nearly 3% lower as its stabilizing manager, UBS AG, purchased 4.5 million shares in the company on July 9 between the price range of SG$0.705 and SG$0.735 per share.

Marco Polo Marine's (SGX:5LY) shares closed over 2% higher as its subsidiary, PKR Offshore, signed a framework agreement with Siemens Gamesa Renewable Energy, to deploy two commissioning service operation vessels.

Meanwhile, shares of China Aviation Oil (Singapore) (SGX:G92) closed over 2% higher as its controlling shareholder's restructuring was concluded, with China Petrochemical Corp. now holding 100% of China National Aviation Fuel (CNAF).

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