Singapore Shares Continue Ascent as US-Iran Sign Interim Peace Deal

MT Newswires06-18 17:48

Singapore shares remained in the green on Thursday, despite mixed sentiment across the region, as the US and Iran reached an interim peace deal to end hostilities.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,120.18 and 5,212.84 throughout the day. It ended the session at 5,212.84, up 36.38 points or 0.7% compared to Wednesday's close.

Both sides have agreed to an immediate and permanent termination of military operations, with the two parties now aiming to achieve a final deal in 60 days.

In economic news, economists have slightly lowered their median forecast for Singapore's 2026 GDP growth to 3.5% from the 3.6% projected in March, according to the June Survey of Professional Forecasters by the Monetary Authority of Singapore.

On the corporate front, shares of Eurosports Global (SGX:5G1) were up over 8% at the close as it completed the issuance and allotment of 26.5 million shares at SG$0.075 per share to Align Auto.

Centurion (SGX:OU8) acquired a 25% stake in its second student accommodation development in Perth, Australia, for a cash consideration of AU$250,000.

Meanwhile, SDAI (SGX:5TI) secured a SG$600,000 loan facility via a funding agreement with private investor Tan Kooi Jin, to make prepayments for AKG longevity and anti-ageing products from suppliers.

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