Singapore Shares Crumble as Region Continues to Reel from US Strikes on Iran
Singapore shares tumbled on Monday, tracking regional losses with markets responding negatively to the growing conflict involving US, Iran and Israel.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,845.78 and 3,883.98 throughout the day. It ended the session at 3,879.26, down 4.17 points or 0.11% compared to Friday's close.
In economic news, Singapore's MAS core inflation, which excludes the cost of accommodation and private transport, declined to 0.6% year on year in May, from 0.7% in April, due to lower food inflation, according to a release by the Monetary Authority of Singapore (MAS).
In company news, shares of Memiontec (SGX:TWL) were down over 8% after it issued 2.5 million shares, pursuant to the exercise of warrants.
Elite UK REIT (SGX:MXNU) was down nearly 2% after it completed the acquisition of three government-leased properties in the UK.
Meanwhile, shares of Keppel Infrastructure Trust (SGX:A7RU) were up over 1% at the close with the trust securing a standby letter of credit and bank guarantee facility for an aggregate principal amount of SG$25 million.
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