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Singapore Shares Surge as Inflation Eases Up; SingPost Rises 5%
Singapore's stock market surged on Wednesday, as US Treasury yields rose with Singapore's inflation easing up.The Straits Times Index , a key benchmark for the Singapore Exchange, ranged between 3,587.89 and 3,616.84 throughout the day. It ended the session at 3,600.78, up 13.37 points or 0.37% compared to Tuesday's close.In economic news, Singapore's headline consumer price index, or overall inflation, eased up 2.0% year on year in September from 2.2% in August, largely due to a steeper fall in private transport costs.In company news, shares of Biolidics surged nearly 13% after the company completed the acquisition of Shenzhen Xiaozhao Network Technology through its wholly owned subsidiary, Embracing Future E-Sports.Grand Bank Yachts' shares zoomed over 6% at the close after the luxury yacht maker's after-tax profit was up 95% year over year to SG$5.4 million for the fiscal first quarter ended Sept. 30, from SG$2.8 million a year earlier.Meanwhile, shares of Keppel Pacific Oak US RE
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