Singapore Shares End Week in Red Despite Global Gains; Nio Rises 2.3%
Singapore's stock market erased yesterday's gains to close the week in the negative territory despite gains in the global markets as Wall Street stocks soared to fresh records overnight.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,613.76 and 3,636.21 throughout the day. It ended the session at 3,624.76, down 8.42 points or 0.23% compared to Thursday's close.
In company news, OUE REIT (SGX:TS0U) rose nearly 2% after the trust priced its offering of SG$180.0 million worth of 3.90% bonds due 2031.
Shares of Casa Holdings (SGX:C04) surged nearly 13% after it completed the disposal of 74,889,900 shares held in Fiamma Holdings to Lau Kim San, Teo Lay Ban, Low Peng Sian and Por Teong Eng for a total consideration of 84.6 million ringgit.
Meanwhile, CapitaLand Integrated Commercial Trust (SGX:C38U) closed lower at nearly 3% after the trust revealed that it had utilized SG$50 million of proceeds from its recent equity fundraising for a proposed acquisition.
Nio rose 2.3%, SingPost rose 2.1%, DBS rose 1.3%; AEM Holdings fell 2.9%, ST Engineering fell 1.5%.
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