Singapore Shares Retreat Tracking Global Overnight Losses; Yangzijiang Shipbuilding Gains Another 1%

MT Newswires

09 Jan

Singapore's stock market experienced a downturn on Thursday, mirroring a negative trend in global markets overnight as investor sentiment was dampened by growing apprehension over the potential impact of new tariffs under the incoming US administration.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,853.35 and 3,880.170 throughout the day. It ended the session at 3,862.600, down 24.38 points or 0.63% compared to Wednesday's close.

In company news, shares of Shanaya (SGX:SES) were up 5% at the close of trading after its wholly owned subsidiary, Shanaya Environmental Services, signed a memorandum of understanding with various companies to explore the feasibility of developing a wastewater treatment pilot plant in Saudi Arabia.

Suntec Real Estate Investment Trust (SGX:T82U) was up nearly 1% after investment holding firm Aelios raised its offer price to acquire all units of the trust it does not own to SG$1.19 per share from SG$1.16 per share.

Yangzijiang Shipbuilding (SGX:BS6) rose another 1% after jumping 4.4% on Wednesday. Asset manager BlackRock is Yangzijiang Shipbuilding’s latest substantial shareholder, the maritime vessel maker announced in a bourse filing on Tuesday.

Meanwhile, shares of Sembcorp Industries (SGX:U96) were up 0.2% after the close after the company bought back 800,000 shares in the open market for SG$4.5 million or SG$5.60926 apiece.

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