Singapore Shares Extend Gains Despite Trump-Musk Twitter Row Impacting Global Indices

MT Newswires

06-06

Singapore shares extended gains on Friday, in contrast to regional and global indices which reacted negatively to a highly-publicized row between US president, Donald Trump, and his former aide, Elon Musk.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,914.07 and 3,934.29 throughout the day. It ended the session at 3,934.29, up 16.60 points or 0.42% compared to Thursday's close.

In company news, shares of Oxley (SGX:5UX) were up nearly 10% with the company revealing that it had struck its subsidiary, Oxley Vibe, off the register.

Oiltek International (SGX:HQU) surged over 8% at the close after it promoted Goh Chee Yong to the position of the company's chief financial officer, effective June 6.

Meanwhile, Great Eastern Holding (SGX:G07) is proposing to delist from the Singapore bourse following a SG$900 million conditional exit offer from Oversea-Chinese Banking Corp. or OCBC (SGX:O39) to acquire the remaining 6.28% of the insurer it does not own at SG$30.15 per share.

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