Singapore Shares Fall. Food Empire Surges 11%; Frasers HTrust up 3%; NIO up 2.2%; SingPost, ST Engineering up over 1%; OCBC Bank down 1%
Singapore shares fell on Wednesday with investors keeping an eye out on the city-state's negotiations with the US to secure relief from the new tariffs imposed by US President Donald Trump.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,861.46 and 3,889.41 throughout the day. It ended the session at 3,871.05, down 10.00 points or 0.26% compared to Tuesday's close.
Frasers HTrust up 3%; NIO up 2.2%; SingPost, ST Engineering up over 1%; Sheng Siong down 2.7%; OCBC Bank down 1%.
In company news, shares of Food Empire (SGX:F03) surged over 11% after the company's total revenue for the first quarter of the year surged 16% to $136.6 million from $117.5 million a year earlier.
AEM Holdings' (SGX:AWX) shares were up nearly 7% at the close, even after the company's net profit declined by 71% during the first quarter of the year to SG$3.3 million from SG$11.7 million in the previous quarter.
Meanwhile, Mermaid Maritime (SGX:DU4) shares were down nearly 4% at the close, as the company posted an attributable loss to the owners of parent of $7.7 million during the first quarter of the year, against an attributable profit of $331,000 a year earlier.
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