Singapore Shares Extend Gains as US Federal Reserve Hints at Interest Rate Cuts
Singapore shares extended gains on Thursday, tracking regional gains as investors responding positively to optimism over the likelihood of the US Federal Reserve cutting interest rates.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,896.67 and 3,917.69 throughout the day. It ended the session at 3,917.69, up 13.81 points or 0.35% compared to Wednesday's close.
In economic news, Singapore's retail sales increased 0.3% in April on a year-on-year basis, according to data released by the Department of Statistics, Singapore.
In company news, shares of Acrophyte Hospitality Trust (SGX:XZL) were down over 3% at the close as the trust entered into a conditional purchase and sale agreement with AHM through ARA USH Chicago to sell the Hyatt Place Detroit Auburn Hills for $6.7 million.
LMS Compliance (SGX:LMS) was down nearly 3% after it obtained key industry accreditation from the Singapore Accreditation Council (SAC).
Meanwhile, shares of Nera Telecommunications (SGX:N01) were down over 1% at the close, with the company revealing that it no longer required to report its unaudited financial results on a quarterly.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10