Singapore Shares Close Week Higher as China Evaluates US Offer for Tariff Talks; GS Holdings Up 3%

MT Newswires

May 02, 2025

Singapore shares rose on Friday as China evaluates an offer from US President Donald Trump to hold tariff talks.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,831.04 and 3,850.02 throughout the day. It ended the session at 3,845.14, up 12.63 points or 0.33% compared to Wednesday's close.

In company news, shares of GS Holdings (SGX:43A) were up nearly 3% at the close after the company received a listing and quotation notice from the Singapore Exchange in connection to its proposed acquisition of Octopus Distribution Networks.

iFast (SGX:AIY) shares were up over 1% after its unit, iFast Global Trust, secured a trust business license from the Monetary Authority of Singapore.

Meanwhile, shares of CSE Global (SGX:544) were up over 2% after its indirect wholly owned subsidiary, CSE Crosscom USA, acquired all the issued and outstanding equity interests of Chicago Communications.

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