Singapore Shares Rally. STI Soars 5.4%; UOB, OCBC Bank up over 7%; DBS Group, Keppel up More Than 6%; SIA Engineering up 5.8%; SIA up 4.3%

MT Newswires
10 Apr

Singapore shares mirrored a revival by regional countries after US President Donald Trump decided to halt his reciprocal tariffs for 90 days but increased tariffs on China to 125%.

The Straits Times Index $(STI.SI)$, a key benchmark for the Singapore Exchange, ranged between 3,548.45 and 3,688.19 throughout the day. It ended the session at 3,577.83, up 184.14 points or 5.43% compared to Wednesday's close.

Sats, UOB, OCBC Bank up over 7%; DBS Group, Keppel up more than 6%; SIA Engineering up 5.8%; SIA up 4.3%.

In company news, United Overseas Bank surged over 7% at the close as the bank outlined plans to increase the charter capital of its Vietnam subsidiary to around SG$520 million.

Keppel has an average rating of overweight and mean price target of SG$8.30, according to analysts polled by FactSet.

Singapore Airlines (SIA) investors react positively to the company's recent share buyback program. The national carrier's stock movement comes amid a generally upbeat market sentiment in Singapore.

shares of Oiltek International surged over 9% as the company proposed a bonus issue of up to 286,000,000 bonus shares.

Meanwhile, shares of CapitaLand Investment were up over 4%, as its lodging business unit, The Ascott, outlined plans to double its Indian portfolio to 12,000 units by 2028.

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