Singapore Shares Surge as US Trade Deal Hopes Intensify; mDR Soars 28%
Singapore shares recovered to surge on Tuesday, crossing the 4,000 mark during the day, mirroring regional gains amid renewed optimism over the possibility of a trade deal with the US.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,968.57 and 4,001.00 throughout the day. It ended the session at 3,989.76, up 25.47 points or 0.64% compared to Monday's close.
In company news, shares of mDR (SGX:Y3D) surged over 28% at the close with the company proposing a renounceable non-underwritten rights cum warrants issue of up to 1,160,147,026 shares at SG$0.03 per share with up to 5,800,735,130 free detachable listed warrant.
17Live (SGX:LVR) was down over 3% after the company issued and allotted 352,439 shares under its employee share option scheme.
Meanwhile, shares of Nordic Group (SGX:MR7) were up over 2% at the close with the company's net profit jumping 9% during the first quarter of the year to SG$4.5 million from SG$4.1 million a year earlier.
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