Singapore Shares Rise Following Under Par US Jobs Data, Recovery in Retail Sales

MT Newswires

Sep 05, 2024

Singapore shares rose on Thursday following the release of lower-than-expected US job's data that bolstered the case for an interest rate cut.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,433.71 and 3,465.08 throughout the day. It ended the session at 3,458.66, up 17.28 points or 0.5% compared to Wednesday's close.

In domestic news, Singapore's retail sales were up 1% in July on a year-on-year basis, according to data released by the Department of Statistics.

Estimated total retail sales came in at SG$4.0 billion in July, with the online sales making 11.9% of the total sales.

In company news, Sevens Atelier (SGX:5EW) ballooned 150%, while the company was sent a query by the SGX amid unusual price movements.

Shares of Nera Telecommunications (SGX:N01) were down by nearly 3% after Ennoconn (TPE:6414) entered into an agreement for the purchase of 193,173,439 issued and paid up capital of the company held by Asia Systems.

Meanwhile, Keppel Infrastructure Trust (SGX:A7RU) closed flat on Thursday as it issued 456.6 million placement units at SG$0.438 per unit as part of its strategic funding initiative.

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