Singapore Shares Extend Gains Amid Positive US-Iran Talks

MT Newswires05-07

Singapore shares extended gains on Thursday, after the US president, Donald Trump, revealed that he held positive discussions with Iran, leading to a sharp decline in oil prices.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,932.89 and 4,958.05 throughout the day. It ended the session at 4,941.96, up 14.58 points or 0.3% compared to Wednesday's close.

Earlier, Iran revealed it was reviewing a new US proposal to put an end of hostilities between the two nations.

In economic news, Singapore's foreign exchange reserves rose to SG$544.1 billion in April from SG$541.7 billion in March, according to data from the Monetary Authority of Singapore.

On the corporate front, shares of Coliwoo (SGX:W8W) surged nearly 7% at the close as its net profit attributable to equity holders jumped 44% in the fiscal first half ended March 31 to SG$13.4 million from SG$9.3 million a year earlier.

AIMS APAC REIT's (SGX:O5RU) shares were up nearly 4% after its distribution per unit rose 2.6% in the fiscal year ended March 31 to SG$0.0985 from SG$0.096 a year earlier.

Meanwhile, StarHub (SGX:CC3) reported 1% declined in its net attributable profit to shareholders plunged 81% in the first quarter of the year to SG$5.9 million from SG$31.8 million a year earlier.

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