Singapore Shares Extend Gains as US Fed Policy Meeting Looms; Civmec Surges 11%
Singapore shares closed higher on Tuesday as investors were cautious ahead of the U.S. Fed policy meeting, starting on May 6.
Meanwhile, US president, Donald Trump hinted at softening his stance towards unilateral tariffs on China.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,847.72 and 3,869.03 throughout the day. It ended the session at 3,860.41, up 7.34 points or 0.19% compared to Monday's close.
In economic news, The S&P Global Singapore PMI, a measure of business activity in the city-state, rose to 52.8 in April from 52.7 in the previous month, signaling slightly improved business conditions, according to data released by S&P Global.
In company news, shares of Civmec (SGX:P9D) surged over 11% at the close after the company secured contract awards and extensions worth around AU$285 million.
Del Monte Pacific (SGX:D03) was up over 1% after the company said that it had decided not to provide financial assistance to settle a litigation faced by the subsidiaries of its unit Del Monte Foods Holdings.
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