Singapore Shares Drop 0.4% on Tech, AI Selloff Amid Rate Fears. Seatrium Down over 4%; SIA Engineering Down 3%; iFast, YZJ Shipbldg, Keppel Down over 2%

MT Newswires10-15

Singapore shares closed lower on Thursday, mirroring a global retreat in technology and artificial intelligence infrastructure stocks as mounting concerns over rising interest rates dented investor sentiment.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,362.72 and 5,411.6 throughout the day. It ended the session at 5,403.5, down 19.83 points or 0.4% compared to Wednesday's close.

Seatrium, YZJ Maritime down over 4%; SIA Engineering down 3%; iFast, YZJ Shipbldg, Keppel down over 2%.

In corporate news, Wilton Resources (SGX:5F7) is looking to raise around $9.3 million via private placement. Shares plunged 32%.

GDS Global (SGX:5VP) closed nearly 4% higher, as it bagged new contracts worth SG$12.1 million in Singapore.

Elsewhere, shares of Green Build Technology (SGX:Y06) fell over 15% at the close, as Helyon launched a mandatory unconditional cash offer for the remaining shares it does not own in the company.

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