Singapore's stock market surged at the close of trading on Tuesday as the market takes a break for Christmas, mirroring overnight gains in the global market.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,756.29 and 3,772.66 throughout the day. It ended the session at 3,769.55, up 17.22 points or 0.46% compared to Monday's close.
In company news, shares of Geo Energy Resources (SGX:RE4) surged over 5% after the company closed in on its agreement with ResInvest to acquire the second tranche of 13.4 million treasury shares at SG$0.5 each and issue 20.1 million warrants at SG$1 per share in the company.
17Live Group (SGX:LVR) was down nearly 3% after it issued and allotted 766,032 shares in the capital of the company to eligible holders of restricted share units under its employee share option plan.
Meanwhile, shares of Seatrium (SGX:5E2) were up nearly 2% at the close after the company signed a contract with BP Exploration and Production for the Kaskida Floating Production Unit (FPU) project in the US Gulf of Mexico.
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