Singapore Shares Soar as More Countries Reach Tariff Deals; ST Engineering Surges 7%

MT Newswires

Jul 24

Singapore shares surged on Thursday, tracking regional gains as countries continue closing in on trade deals with the US.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,237.72 and 4,274.32 throughout the day. It ended the session at 4,273.05, up 41.77 points or 0.99% compared to Wednesday's close.

In company news, shares of ST Engineering (SGX:S63) were up over 7% at the close as it secured contracts worth approximately SG$4.7 billion during the second quarter of the year.

Singapore Post's (SGX:S08) shares were down nearly 5% with its subsidiary, SingPost Logistics Enterprise, completed its takeover of Quantium Solutions International from its joint venture partner Alibaba Investment.

Meanwhile, shares of Mapletree Logistics Trust (SGX:M44U) were down nearly 2% at the close as its available distribution per unit declined by over 12% in fiscal Q1 to SG$1.8 million from SG$2.1 million a year earlier.

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