Singapore Shares Fall With All Eyes on Iran-Israel Conflict; Nio, Sembcorp up 2%
Singapore shares remained mired in the red zone on Friday, mirroring regional gains with markets keeping one eye on US involvement in the Iran-Israel conflict.
STI fell 0.3%; Nio, Sembcorp up 2%; Keppel up 1.4%; Seatrium up 1%; SIA Engineering fell 2%; CityDev fell 1.4%; SATS, Singtel fell 1.3%.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,883.43 and 3,903.72 throughout the day. It ended the session at 3,883.43, down 10.75 points or 0.28% compared to Thursday's close.
In company news, shares of Capital World (SGX:1D5) were down over 50% after the company's deal with Growth Development and Management to sell ownership of five tower blocks at Capital City Mall collapsed.
Mooreast's (SGX:1V3) shares were up nearly 6% with the company's subsidiary, Mooreast Asia and Seatrium New Energy agreed to extend the long stop date under an option to purchase a property located at Mukim 7, Singapore to Dec. 31.
Meanwhile, shares of Fu Yu Corporation (SGX:F13) has yet to initiate legal proceedings against individuals, including its largest shareholder Victor Lim, in connection with a probe into its unit, Fu Yu Supply Chain Solutions, which was involved in unverifiable payment arrangements.
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