Singapore Shares Rise as US-China Reach Trade Deal; Trek 2000 International Surges Over 24%

MT Newswires

Oct 27

Singapore shares rose on Monday, mirroring regional gains, as investors responded positively to a US-China trade deal that effectively averted an escalation of a trade dispute between the two countries.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,434.27 and 4,448.95 throughout the day. It ended the session at 4,440.30, up 18.09 points or 0.41% compared to Friday's close.

In company news, shares of Trek 2000 International (SGX:5AB) surged over 24% at the close as its subsidiary Trek Technology (Singapore) is partnering with software developer Aboard AI to create AI solutions for the aviation sector.

iFast's (SGX:AIY) shares were up over 6% as its attributable profit to owners jumped 55% to SG$26.0 million in the third quarter of the year from SG$16.8 million a year earlier.

Meanwhile, shares of ASL Marine (SGX:A04) were up over 2% at the close after the company said that it is providing assistance to the families of victims of a fire incident that took place in its subsidiary' ASL Shipyard Indonesia's shipyard.

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