Singapore Shares Extend Losses Despite Hopes of Fresh US-Iran Talks; GDS Global Up 7%

MT Newswires08-03

Singapore shares started the week lower, closing in the red zone on Monday, tracking broader regional losses despite the US President, Donald Trump, claiming fresh talks with Iran to find a long-term peace resolution.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,590.93 and 5,630.49 throughout the day. It ended the session at 5,612.28, down 16.22 points or 0.3% compared to Friday's close.

On the corporate front, shares of GDS Global (SGX:5VP) surged over 7% at the close as it secured a new supply contract for its proprietary blast-mitigating shutters for a major oil and gas facility in Qatar through a local distributor.

RH PetroGas (SGX:T13) closed over 2% lower as its unit completed drilling of the Northwest Klagagi-1 well under the Kepala Burung production sharing contract in Southwest Papua, Indonesia.

Meanwhile, shares of Samudera Shipping Line (SGX:S56) were up nearly 1% at the close as it completed the disposal of MT Sinar Mendawai on July 31.

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