Singapore Shares Rebound as Tensions in Middle East Ease; SIA and UOB up About 2%

MT Newswires

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Singapore shares surged on Tuesday, tracking regional gains as US was able to confirm a ceasefire between Iran and Israel, thus deescalating tensions in the Middle East.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,890.87 and 3,910.83 throughout the day. It ended the session at 3,904.30, up 25.04 points or 0.65% compared to Monday's close.

In company news, shares of CosmoSteel (SGX:B9S) were up over 11% at the close after 3HA Capital revised its offer price for the takeover of the company to SG$0.25 per share after the company's independent financial advisor deemed the initial offer not fair.

RH PetroGas (SGX:T13) was down 11% after it issued and allotted 200,000 shares at an exercise price of SG$0.150 per share under its share option scheme.

Meanwhile, shares of Lum Chang (SGX:L19) were up over 7% at the close with the company's subsidiary, Lum Chang Creations, lodging a preliminary offer document for a listing on the Catalist board of the Singapore Exchange.

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