Regional Selloff, US Polls Keep Singapore Stocks Under Pressure

MT Newswires11-03 17:39

Singapore equities extended their decline on Tuesday, tracking regional market losses as investors adopted a cautious stance ahead of the US midterm elections and amidst stabilizing oil prices.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,227.16 and 5,302.61 throughout the day. It ended the session at 5,269.29, down 34.54 points or about 0.7% compared to Monday's close.

On the corporate front, shares of Addvalue Technologies (SGX:A31) closed nearly 5% higher as its subsidiary, Addvalue Space Technologies confidentially submitted a draft registration statement on Form F-1 to the US Securities and Exchange Commission for a proposed US initial public offering.

First Resources (SGX:EB5) closed over 2% lower as it communicated commitment to voluntarily engage, at its own cost, assessors from the Singapore government in connection with fires in Indonesia.

Meanwhile, Parkway Life Real Estate Investment Trust (SGX:C2PU) posted SG$0.131 in distribution per unit for January to September, compared with SG$0.1156 a year ago.

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