Singapore Shares Close in Red; Nio Falls 5.3%

MT Newswires

2024-10-21

Singapore's stock market plunged on Monday despite weekend gains in global markets, buoyed by the European Central Bank's decision to cut interest rates.

The Straits Times Index , a key benchmark for the Singapore Exchange, ranged between 3,612.02 and 3,640.28 throughout the day. It ended the session at 3,614.58, down 25.61 points or 0.7% compared to Friday's close.

In company news, shares of TalkMed surged over 12% after a filing disclosed that the company is currently in discussions with a group of individuals considering to acquire a stake in the medical services provider.

Sunrise Shares shares plunged over 4% after the Singapore Exchange reprimanded the company's former chief executive officer, Liang Yongdong, former chairman, Wong Siu Fai, as well as three directors for breaching certain Catalist rules.

Meanwhile, shares of CityDev were up nearly 1% at the close after the real estate developer sold 292 units from its Norwood Grand project at an average selling price of SG$2,067 per square foot.

Nio fell 5.3%; ST Engineering fell 2.1%; DBS fell 1.4%; Singtel, Yoma Strategic fell 1.2%.

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