Singapore Shares Surge Amid Middle East De-escalation Hopes; H2G Green Surges 14%

MT Newswires

03/10

Singapore stocks rebounded Tuesday, gaining more than 2% as markets bet on de-escalation in the Middle East following remarks by U.S. President Donald Trump which followed a drop in oil prices.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,798.81 and 4,865.29 throughout the day. It ended the session at 4,860.64, up 104.03 points or 2.2% compared to Monday's close.

Brent oil dropped to $90 after U.S. President Donald Trump said the war with Iran might end soon, but warned he would continue fighting if Tehran keeps blocking oil shipments through the Strait of Hormuz.

In corporate news, shares of H2G Green (SGX:5AI) surged over 14% at the close as the company and RD Property Holdings agreed to grant a convertible loan of SG$11 million to H2G's 50.10% owned subsidiary, Green Energy Investment.

Serial Achieva (SGX:XHV) closed 9% higher as it revealed negotiations regarding a potential transaction of its shares.

Meanwhile, shares of Mary Chia (SGX:5OX) were down over 5% at the close as the wellness brand allotted and issued around 5.7 million shares to a subscriber at SG$0.035 per share.

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