Singapore Shares Muted as Economic Growth Slows in Q1; Singtel up 3%
Singapore shares ended marginally lower on Thursday after the city-state reported a slowdown in economic growth during the first quarter of the year.
The Straits Times Index ranged between 3,857.11 and 3,881.85 throughout the day. It ended the session at 3,880.09, down 2.46 points or 0.06% compared to Wednesday's close.
In economic news, Singapore's economy grew 3.9% year over year in Q1, moderating from a 5.0% growth in the previous quarter, according to data released by the Ministry of Trade and Industry.
In corporate news, shares of Singtel were up nearly 3% at the close after the telco booked an attributable profit of SG$2.79 billion for fiscal H2, rebounding from an attributable loss of SG$1.34 billion a year earlier.
LHN shares were down nearly 2% after its subsidiary, Coliwoo Holdings, agreed to dispose of its entire stake in a step-down subsidiary.
Singtel rose 2.6%; Yoma Strategic rose 2.5%; ST Engineering rose 1.2%; SIA rose 1.1%; SingPost rose 0.9%; SIA Engineering rose 0.8%; Nio fell 1.5%.
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