Singapore Shares Log Gains as Markets Await Key US Federal Reserve Speech

MT Newswires
Aug 21

Singapore shares closed higher on Thursday as investors await US Federal Reserve Chairman Jerome Powell's upcoming speech on interest rates on Friday.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,215.51 and 4,233.33 throughout the day. It ended the session at 4,230.90, up 11.36 points or 0.27% compared to Wednesday's close.

In company news, shares of Beng Kuang Marine (SGX:BEZ) were up over 6% at the close as it outlined plans to restructure its units, MTM Engineering and OneHub Tank Coating.

Serial System's (SGX:S69) shares were up over 2% as its associated company, Bull Will, won proceedings in the Taiwan Shilin District Court, in connection with a civil suit filed by the Securities and Futures Investors Protection Centre of Taiwan (SFIPC).

Meanwhile, RAM Ratings reaffirmed its ratings of Frasers Hospitality Trust (SGX:ACV) sponsored Series 2024-A bonds under Notable Vision's 750 million medium term bonds program.

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