Singapore Shares Close Higher as Employment Rate Improves; Seatrium Gains 1.5%; Far East Slides 14%

MT Newswires

10 Dec 2024

Singapore's stock market surged at the close on Tuesday, as the city state reported a rise in its employment numbers for the third quarter of the year.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,795.70 and 3,820.52 throughout the day. It ended the session at 3,813.55, up 18.63 points or 0.49% compared to Monday's close.

In economic news, Singapore's resident employment nearly doubled during the third quarter of 2024, compared with the previous quarter, according to data released by the country's Ministry of Manpower.

In company news, shares of Far East Group (SGX:5TJ) were down over 14% as the company completed the proposal of a freehold property located at Bandar George Town, Malaysia.

Sunpower Group (SGX:5GD) was up nearly 2% as the clean energy services company proposed to undertake a renounceable non-underwritten rights issue of up to SG$99.6 million worth of 7.0% convertible bonds, convertible to up to 389,438,568 shares.

Meanwhile, Del Monte Pacific (SGX:D03) closed flat on Tuesday as it fully redeemed $90.0 million worth of 3.75% senior bonds due in 2024.

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