Singapore Shares Tumble After US Fed Keeps Interest Rates; Riverstone Down 9%
Singapore shares tumbled further on Thursday as investors reacted to the US Federal Reserve's decision to keep interest rates unchanged amid a raging trade war.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,839.14 and 3,875.41 throughout the day. It ended the session at 3,848.22, down 17.15 points or 0.4% compared to Wednesday's close.
In company news, DBS's (SGX:D05) shares were up under 1% after the financial institution's net profit fell 2% year over year to SG$2.9 billion in the first quarter.
Shares of Riverstone (SGX:AP4) slumped nearly 9% at the close after the company's attributable profit to equity holders declined to 56.4 million Malaysian ringgit during the first quarter of the year from 72.2 million ringgit a year earlier.
Meanwhile, Fortress Minerals (SGX:OAJ) was up nearly 5% at the close after the mining company signed a share and purchase agreement with the company's CEO, Sri Ivan Chee Yew Fei, to acquire a 10% stake in Strategic Venture for a cash consideration of $3 million.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10