Singapore Shares Rise Despite Trump's Trade Policies; ICP Surges 14%; Yangzijiang Shipbuilding Jumps 9%

MT Newswires

Apr 21, 2025

Singapore continued trading in positive territory on Monday, mirroring regional gains, despite US President Donald Trump's criticism of the US Federal Reserve Chair Jerome Powell hinting at a potential impact on global markets.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,729.60 and 3,774.39 throughout the day. It ended the session at 3,759.22, up 38.89 points or 1.05% compared to Thursday's close.

In company news, shares of ICP (SGX:5I4) surged over 14% after the company revealed that it is facing a potential voluntary delisting from the Singapore Exchange following an exit proposal from its controlling shareholder, Aw Cheok Huat.

Rex International (SGX:5WH) was up nearly 2% after the company provided an update on an independent summary competent person's report on the H7 and H8 reservoirs in the Seme Field in Benin.

Meanwhile, Marco Polo Marine's (SGX:5LY) newly launched commissioning service operation vessel, the MP Wind Archer, has completed its reflagging to Taiwan.

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