Singapore Stay in Red, Track Regional Losses; Seatrium Down Over 5%

MT Newswires
Jul 31

Singapore shares tanked further on Thursday, tracking regional losses as markets reacted to Donald Trump's updated tariffs on South Korea and India, while also penalizing the latter for purchasing weapons and energy from Russia.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,173.77 and 4,205.99 throughout the day. It ended the session at 4,173.77, down 45.64 points or 1.08% compared to Wednesday's close.

In economic news, Total loans and advances to residents in Singapore totaled SG$853.3 billion in June, up from SG$844.6 billion in the preceding month, according to preliminary data released by the Monetary Authority of Singapore.

In company news, shares of Seatrium were down over 5% at the close as the company's attributable profit to owners surged to SG$144.4 million during the first half of the year from SG$36.0 million a year earlier.

Keppel's (SGX:BN4) shares were up nearly 4% as the company logged a 24% increase in its attributable profit during the first half of the year to SG$377.7 million from SG$304.1 million a year earlier.

Meanwhile, shares of Jardine Cycle & Carriage (SGX:C07) were down nearly 4% at the close as the company's attributable profit declined 23% in H1 to $371 million from $483 million a year earlier.

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