Singapore shares declined more than 1% at the close on Tuesday as the entire region incurred similar losses backed by a heavy sell-off of US semiconductor shares due to concerns over AI development growth.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,632.16 and 5,720.91 throughout the day. It ended the session at 5,638.64, down 79.38 points or 1.4% compared to Monday's close.
On the corporate front, shares of EuroSports Global (SGX:5G1) surged over 6% at the close as it signed a non-binding term sheet with Helios Power Systems to explore a strategic joint venture for the international distribution of Helios' heavy-duty commercial vehicles..
Accrelist (SGX:QZG) rose nearly 4% at the close as its subsidiary, Accrelist Crowdfunding, signed 12 share sale agreements to dispose of 60 million shares in MClean Technologies.
Meanwhile, Lincotrade & Associate's (SGX:BFT) shares were up nearly 2% at the close as its subsidiary, Lincotrade Capital, raised its stake in joint venture company Linc-A to 60% and signed a shareholders' agreement with its two JV partners.
