Singapore Shares Mirror Regional Decline to End Lower as Trump Hints at US Intervention in Iran
Singapore shares crashed on Thursday, mirroring regional declines as Asian markets reacted negatively to the possibility of the US getting involved in the Iran-Israel conflict.
STI fell 0.7%; SingPost up 1%; Nio fell 3%; Seatrium fell 2.4%; Sembcorp fell 2%; Keppel fell 1.6%; UOL, SATS fell 1.3%.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,892.09 and 3,917.62 throughout the day. It ended the session at 3,894.18, down 26.63 points or 0.68% compared to Wednesday's close.
In company news, shares of Seatrium (SGX:5E2) were down over 2% after it signed a letter of intent with Norwegian maritime solutions provider Solvang for the installation and retrofitting of full-scale carbon capture and storage systems.
SATS (SGX:S58) shares were down over 1% as its subsidiary World Flight Services launched and priced $100.0 million worth of 4.648% fixed rate bonds due June 23, 2030, under its $3 billion multicurrency debt issuance program.
Meanwhile, shares of RH PetroGas (SGX:T13) were up nearly 4% at the close with the company set to issue and allot 540,000 new shares in its capital at SG$0.15 per share under its RHP Share Option Scheme.
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