Singapore Shares End Higher Following China Rate Cuts; SGX up 1.5%
Singapore shares closed higher on Tuesday following Chinese interest rate cuts to bolster the economy.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,879.30 and 3,901.67 throughout the day. It ended the session at 3,882.50, up 6.30 points or 0.16% compared to Monday's close.
In corporate news, shares of Unusual (SGX:1D1) plunged over 24% at the close after the company forecasted a net loss for the fiscal year ended March 31.
Shares of LHT Holdings (SGX:BEI) were up nearly 11% after it received a term sheet from its chief executive officer and controlling shareholder, Yap Mui Kee, to purchase the company's operating assets and business undertakings.
Meanwhile, shares of Wee Hur (SGX:E3B) were up over 1% after its wholly owned subsidiary, Wee Hur Construction, was awarded projects by the Housing and Development Board of Singapore.
STI up 0.2%; SGX up 1.5%; Yoma Strategic, SATS fell 1.3%; Sembcorp, SingPost fell 1%.
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