Singapore Shares Fall Marginally as IMF Slashes Global Growth Forecast; DBS and UOB Drop 1%
Singapore shares rallied for the most part of Thursday, before eventually succumbing to mixed signals across regional markets, with the International Monetary Fund (IMF) slashing its forecast for global growth, following US President, Donald Trump's new tariff policies.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,825.98 and 3,851.38 throughout the day. It ended the session at 3,831.92, down 0.40 points or 0.01% compared to Wednesday's close.
In company news, shares of Mapletree Logistics Trust (SGX:M44U) were down over 4% at the close after its distribution per unit or DPU declined 11.6% to SG$0.01955 for the fiscal fourth quarter ended March 31.
Keppel (SGX:BN4) was up nearly 3% after its unit M1 Ltd. completed the acquisition of shares in Vietnam-based ADG National Investment and Technology Development on Wednesday.
Meanwhile, Eneco Energy's (SGX:R14) logistics division under Richland Logistics Services, secured five new contracts with an aggregate value of SG$4.1 million.
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