Singapore Shares Crumble as Region Continues to Reel from US Strikes on Iran

MT Newswires
2025/06/23

Singapore shares tumbled on Monday, tracking regional losses with markets responding negatively to the growing conflict involving US, Iran and Israel.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,845.78 and 3,883.98 throughout the day. It ended the session at 3,879.26, down 4.17 points or 0.11% compared to Friday's close.

In economic news, Singapore's MAS core inflation, which excludes the cost of accommodation and private transport, declined to 0.6% year on year in May, from 0.7% in April, due to lower food inflation, according to a release by the Monetary Authority of Singapore (MAS).

In company news, shares of Memiontec (SGX:TWL) were down over 8% after it issued 2.5 million shares, pursuant to the exercise of warrants.

Elite UK REIT (SGX:MXNU) was down nearly 2% after it completed the acquisition of three government-leased properties in the UK.

Meanwhile, shares of Keppel Infrastructure Trust (SGX:A7RU) were up over 1% at the close with the trust securing a standby letter of credit and bank guarantee facility for an aggregate principal amount of SG$25 million.

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