Singapore Shares Close Flat Ahead of US Fed Rate Cut Decision; YZJ Shipbldg up 2%

MT Newswires

2024-09-18

Singapore's stock market closed flat on Wednesday despite global equities closing largely higher overnight ahead of a US Federal Reserve decision on interest rate cuts.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,573.22 and 3,596.91 throughout the day. It ended the session at 3,592.42, down just 1 point or 0.03% compared to Tuesday's close.

In company news, shares of Kingsmen Creatives (SGX:5MZ) closed over 4% after its subsidiary, Kingsmen Xperience signed a strategic partnership with Netflix for the design and development of Squid Game to Soul, Korea.

Sembcorp Industries (SGX:U96) was up over 2% at market close after the company agreed to acquire ENGIE Global Developments' 30% stake in Senoko Energy, a supplier of electricity in Singapore.

Meanwhile, MindChamps Preschool (SGX:CNE) was up nearly 3% after the preschool learning company appointed Yip Bao Chung as the company's chief financial officer, effective Oct. 15.

YZJ Shipbldg rose 1.94%, ST Engineering rose 1.08%, SIA rose 0.92%; Yoma Strategic fell 3.06%, Seatrium fell 1.18%.

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