Singapore Stocks Mirror Regional Gains Buoyed by IT Rally; Salt Investments Zooms 33%

MT Newswires

May 04

Singapore shares surged on Monday, tracking regional sentiment lifted by a rally in technology stocks.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,924.31 and 4,960.14 throughout the day. It ended the session at 4,924.31, up 11.62 points or 0.2% compared to Thursday's close.

On the corporate front, shares of Salt Investments (SGX:FQ7) soared over 33% at the close as it signed a placement agreement with Evolve Capital Advisory to raise up to SG$4.8 million.

OxPay Financial Services (SGX:TVV) closed over 15% higher as its subsidiary, Oxygen7, secured a financial services license from the Gelephu Financial Services Office of Bhutan.

Meanwhile, shares of Emerging Towns & Cities Singapore (SGX:1C0) fell nearly 17% at the close with the property developer forecasting a loss in the first quarter of the year.

STI up 0.2%; Olam up 16%; SIA Engineering up 5%; SingPost up 3%; Singtel up 2%; Nio down 4%.

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