Singapore stocks defied declines on Wall Street to continue their winning streak on Wednesday, ahead of the US Federal Reserve's policy decision due later today.
The Straits Times Index $(STI)$, a key benchmark for the Singapore Exchange, ranged between 3,900.23 and 3,918.24 throughout the day. It ended the session at 3,908.31, up 13.34 points or 0.34% compared to Tuesday's close.
According to the Monetary Authority of Singapore's latest Survey of Professional Forecasters, the city-state's economy is expected to grow by 3.8% year-on-year in the first quarter, and by 2.6% in 2025.
In other economic news, Singapore's overall unemployment rate remained at 1.9% in December 2024, with the resident jobless rate at 2.8% and the citizen unemployment rate at 2.9%, according to data released by the Ministry of Manpower.
In company news, shares of Sin Heng Heavy Machinery (SGX:BKA) were up nearly 1% after the company appointed an independent financial adviser in the wake of the voluntary unconditional offer to take the company private at SG$0.58 per share by Tal United.
Sembcorp Industries (SGX:U96) was down nearly 1% at the close after the company completed the disposal of its entire issued and paid up share capital in Sembcorp Environmental to SBT Investment 2.
Meanwhile, Sincap Group (SGX:5UN) confirmed its intention to acquire the entire issued and paid up share capital of Skylink APAC for SG$42.3 million.
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