Singapore Shares End Marginally Lower; Nio Drops 4%

MT Newswires

2024-10-01

Singapore's stock market closed marginally lower on Tuesday despite US Federal Reserve chair Jerom Powell hinting at further interest rate cuts.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,575.08 and 3,602.97 throughout the day. It ended the session at 3,580.96, down 4.33 points or 0.12% compared to Monday's close.

In company news, shares of Amplefield (SGX:AOF) surged 15% after the company gained control of over 59.99% of CAM Connectivity Phils through a shareholder agreement with CMB Mechatronics.

Pharmesis International (SGX:BFK) zoomed over 14% at the close after the healthcare company completed the acquisition of the remaining 19% stake it did not own in Sichuan Longlife Pharmaceutical.

Meanwhile, The Trendlines Group (SGX:42T) was down nearly 2% after the company said that it will continue its business operations despite security situation in Israel.

Nio fell 4%, OCBC fell 1%, SIA fell 0.7%; YZJ Shipbldg rose 1.6%, SIA Engineering rose 1.2%.

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