Singapore Shares Surge as Investors Weight US Economic Data; Sembcorp Industries Climbs 2%

MT Newswires

Mar 18, 2025

Singapore's shares rallied on Tuesday tracking gain across regional markets as investors assessed the latest US economic data, with US retail sales rebounding marginally in February.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,876.19 and 3,908.02 throughout the day. It ended the session at 3,894.97, up 35.61 points or 0.92% compared to Monday's close.

In company news, Sembcorp Industries (SGX:U96) was up nearly 2% after it responded to a Bloomberg article stating that the company is conducting a strategic review of its business.

Shares of Oceanus Group (SGX:579) were up 20% as it awarded 97,727,668 shares under the vesting of share awards granted under its restricted share plan.

Meanwhile, shares of First Resources (SGX:EB5) were down over 1% after the company agreed to acquire a 91.17% stake in Indonesia-listed oil palm plantation company Austindo Nusantara Jaya (IDX:ANJT).

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