Singapore Shares Continue Retreat Ahead of US Inflation, Jobs Data

MT Newswires

Sep 25

Singapore shares continued their downward trend on Thursday as investors continued to assess the implications of upcoming US inflation and jobs data, echoing regional losses.

The Straits Times Index ranged between 4,272.39 and 4,297.46 throughout the day. It ended the session at 4,273.86, down 16.54 points or 0.39% compared to Wednesday's close.

In company news, shares of EuroSports Global (SGX:5G1) surged over 24% at the close as its subsidiary, Scorpio Electric, signed a term sheet with an unnamed Malaysian investor for a potential investment.

Rex International (SGX:5WH) was up nearly 1% after the oil and gas exploration firm signed a share swap agreement with Monarch Marine to acquire a 9.6% stake in Lime Petroleum.

Meanwhile, Beverly Wilshire (SGX:9QX) outlined plans to raise SG$100,000 through the issuance of 9.2 million shares to private investor Tan Chin Hong at a price of SG$0.0109 apiece.

STI fell 0.4%; EuroSports Global rose 24%; SIA Engineering rose 4%; Yangzijiang Shipbuilding rose 1%; CityDev fell 2%.

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