Singapore Shares Close 0.3% Higher. NIO up 5.6%; IHH up 2%; YZJ Shipbldg, Singtel up 1.8%; OCBC Bank up 0.9%; SIA Engineering up 0.6%
Singapore shares extended gains on Friday, mirroring regional gains as investors moved on from the initial pessimism over US President, Donald Trump's sweeping tariffs, expecting governments to strike deals to avoid levies.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,069.34 and 4,102.97 throughout the day. It ended the session at 4,087.81, up 12.11 points or 0.3% compared to Thursday's close.
NIO up 5.6%; IHH, Alibaba HK SDR, CapLand China T up 2%; YZJ Shipbldg, Singtel up 1.8%; OCBC Bank up 0.9%; SIA Engineering up 0.6%.
In company news, shares of GRC were up nearly 8% at the close after its subsidiary, Chip Eng Seng Contractors, was awarded a building works contract by the Housing & Development Board worth SG$242.7 million.
Cordlife Group (SGX:P8A) was down nearly 2%, with the company offering enhanced packages for customers whose cord blood units were stored in damaged and high-risk tanks.
Meanwhile, shares of Prospera Global (SGX:5HH) were up over 7% as the company started the operations of a new business by its Mauritius-based subsidiary, PGL Capital, while shutting down its hostel operations by G4 Station.
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