Singapore Shares Rise as February Inflation Eases; DFI Retail Jumps 4%; NIO Sinks 3%
Singapore's closed higher on Monday, as the city-state's inflation eased during February, with Asian markets tracking losses.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,920.62 and 3,947.63 throughout the day. It ended the session at 3,936.33, up 9.88 points or 0.25% compared to Friday's close.
In economic news, Singapore's MAS core inflation, which excludes the cost of accommodation and private transport, fell to 0.6% year on year in February, from 0.8% in January, because of lower inflation across all broad core categories.
In company news, Shares of DFI Retail Group (SGX:D01) jumped 4% after it announced the divestment of its Singapore food business.
shares of Q & M Dental (SGX:QC7) were up nearly 2% after its subsidiary, EM2AI, entered into a binding written agreement with an unnamed provider of dental solutions to integrate its dental AI solutions into its platform.
Food Empire (SGX:F03) was down over 1% after it secured a $10 million loan from the European Bank for Reconstruction and Development (EBRD).
Meanwhile, shares of CapitaLand India Trust (SGX:CY6U) were up nearly 2% at the close after the trust issued SG$200 million worth of 3.20% bonds due 2030.
NIO (SGX:NIO) flagged first-quarter results likely to disappoint market watchers after finishing 2024 on a weak note. The shares dropped 3.4%.
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