Singapore Shares Surge More Than 1% as China-US Trade Tensions Ease; Nio up 6%

MT Newswires

Oct 21

Singapore shares surged more than 1% on Tuesday, tracking broader regional gains, as investors responded positively to the potential easing of China-US trade tensions.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,373.38 and 4,400.39 throughout the day. It ended the session at 4,381.05, up 52.12 points or 1.2% compared to Friday's close.

In company news, shares of Hong Leong Asia (SGX:H22) plunged over 12% at the close as the president of its subsidiary, Guangxi Yuchai Machinery, Wu Qiwei, was detained by Chinese authorities.

AJJ Medtech (SGX:584) subsidiary, AJJ Healthcare Management, appointed William Ong as chief executive officer, effective Oct. 21.

Meanwhile, V2Y's (SGX:V2Y) group financial controller, Nguyen Thi Hong Nhuan, resigned from the post with immediate effect on Oct. 14.

STI up 1.2%; Nio up 6%; SIA Engineering, Yangzijiang Shipbuilding up 3%; Sembcorp, Singtel rose 2%.

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