Singapore Shares Incur Losses as US-Iran Conflict Heats Up Again; Resources Global Development Up 9%

MT Newswires06-04

Singapore shares shed more than 1% at the close of market on Thursday, tracking regional losses, with investor sentiment taking a hit following the resumption of hostilities between the US and Iran.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,064.20 and 5,112.09 throughout the day. It ended the session at 5,067.53, down 70.71 points or 1.4% compared to Wednesday's close.

On the corporate front, shares of Resources Global Development (SGX:V7R) surged over 9% at the close as it outlined plans to subscribe to its pro-rata entitlement of around 111.8 million shares in Indonesia-listed PT Singaraja Putra (IDX:SINI) for around SG$40 million.

The Assembly Place (SGX:TAP) closed over 2% lower after it signed a joint venture agreement with three partners to operate serviced apartments in Tanglin Road, Singapore.

Meanwhile, shares of MetaOptics (SGX:9MT) were down nearly 2% despite the semiconductor company confirming the proposed dual listing on the Nasdaq Stock Market to be on track.

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