Singapore Shares Rally on Trump's Tariff Reprieve, Positive US Consumer Data; OxPay Surges 100%

MT Newswires

May 28, 2025

Singapore shares ended higher on Wednesday tracking a Wall Street rally, after US stocks rose sharply higher on Tuesday following Trump's tariff reprieve and an unexpected jump in the US consumer confidence data.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,901.29 and 3,919.03 throughout the day. It ended the session at 3,911.92, up 15.83 points or 0.41% compared to Tuesday's close.

In coporate news, shares of OxPay Financial (SGX:TVV) surged nearly 100% at the close, with the company looking to raise about SG$423,878 from issuing new ordinary shares.

Manulife US REIT (SGX:BTOU) was up nearly 2% with the REIT completing the divestment of a property in Peachtree, Georgia, US.

Meanwhile, CapiaLand Ascendas REIT (SGX:A17U) entered into conditional agreements for the acquisitions of a data center and a business space property.

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