Singapore Shares Start Week in Green on Interest Rate Cut Hope; NIO Down 5.8%

MT Newswires

2024-09-02

Singapore's stock market closed higher on Monday, after global equities concluded Friday on a positive note in anticipation of the US Federal Reserve's interest rate cut in September.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,439.83 and 3,466.79 throughout the day. It ended the session at 3,463.08, up 20.15 points or 0.59% compared to Friday's close.

In company news, shares of Y Ventures (SGX:1F1) surged over 6% after the company proposed to undertake a renounceable non-underwritten rights issue of 246,854,000 new shares in the company's capital at an issue price of SG$0.004 per share.

NIO's (HKG:9866, SGX:NIO) Singapore-listed shares were down nearly 6% on Monday's close after the company delivered 20,176 vehicles in August, comprising 11,923 premium smart electric SUVs and 8,253 smart electric sedans.

Meanwhile, Aspial Lifestyle (SGX:5UF) was down nearly 2% after it received a listing and quotation notice from the SGX for the listing and quotation of up to 311,843,500 rights shares.

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