Singapore's stock market tracked global markets to close higher on Friday as trading resumed following a 2-day holiday to celebrate the Chinese New Year.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,837.96 and 3,876.32 throughout the day. It ended the session at 3,855.82, up 54.75 points or 1.44% compared to Tuesday's close.
In economic news, total loans and advances to residents in Singapore totaled SG$835.0 billion in December 2024, with business loans and consumer loans contributing SG$510.92 billion and SG$324.07 billion, respectively, according to data released by the Monetary Authority of Singapore.
In corporate news, Singapore Telecommunications' (SGX:Z74) shares were up over 2% at the close after its wholly-owned Australian subsidiary, Optus Finance, signed AU$1.95 billion worth of committed revolving credit facility with 12 banks.
Shares of Raffles Education (SGX:NR7) surged over 15% after the board approved the appointment of Chew Xuan Wei as the senior manager operations of its Indonesian subsidiary, Raffles Jakarta, Indonesia, effective Jan. 28.
Meanwhile, shares of Singapore Airlines (SGX:C6L) were up over 1% after the Competition and Consumer Commission of Singapore granted conditional approval to widen the geographical scope of a 2016 joint venture with German airline Lufthansa.
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