Singapore's Shares Plunge Over Rising Unemployment; Sheng Siong Down 5%

MT Newswires10-30

Singapore shares fell on Friday, as the city-state's overall unemployment rate stood at 2% in the third quarter of 2026, compared with 1.9% in the previous quarter, according to data from the Ministry of Manpower.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,365.13 and 5,406.25 throughout the day. It ended the session at 5,376.74, down 19.29 points or 0.4% compared with Thursday's close.

On the corporate front, shares of Sheng Siong Group (SGX:OV8) closed nearly 5% lower even as it posted SG$44.6 million in attributable profit for the third quarter, compared with SG$43.7 million a year ago.

Seatrium (SGX:5E2) was down nearly 1% at the close, even as it bagged a Floating Production Storage and Offloading (FPSO) integration contract worth over SG$200 million from floating production solutions company SBM Offshore.

Meanwhile, shares of CapitaLand Ascendas REIT's (SGX:A17U) closed over 1% higher as its portfolio occupancy rate rose to 90.1% in the third quarter from 89.1% a year ago.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • himynameis
    10-30
    himynameis
    down 0.4% is not called a plunge
Leave a comment
1