Singapore Shares Overcome Trade War Worries. STI up 0.36%; F&N up 3%; DBS up 1.6%; UOB up 1%; ST Engineering Down 2%
Singapore's stock market overcame trade war worries to start the week in green, boosted by DBS reporting a strong quarterly profit on Monday.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,872.98 and 3,921.30 throughout the day. It ended the session at 3,875.13, up 13.71 points or 0.36% compared to Friday's close.
In company news, DBS Group'sshares were up 1.6% at the close, as the bank's net profit for the second half of 2024 rose 12% to SG$5.65 billion from SG$5.03 billion a year earlier.
F&N up 3%; YZJ Fin Hldg up 2%; UOB up 1%; ST Engineering was down 2%.
Shares of ICP surged over 14% at market close, as the company's profit attributable to owners of the company for the fiscal half ended Dec. 31, 2023 surged 93% to SG$770,000 from SG$399,000 a year earlier.
Fraser and Neave closed over 3%, as its profit attributable to shareholders was up 19% to SG$52.0 million for the fiscal first quarter ended Dec. 31, 2024, from SG$43.8 million a year earlier.
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