Singapore Shares Surge Despite Mixed Regional Performance Due to Iran-Israel Conflict; BBR Up 5%
Singapore shares rose on Tuesday, with the Straits Times Index closing at 3,930.64, up 0.57%, despite mixed performance in Asian markets due to the Iran-Israel conflict. BBR shares surged nearly 5% after securing SG$220 million in contracts. In contrast, Baker Technology's shares fell over 4% as it anticipates a net loss for the first half of the year. Q & M Dental Group shares also declined over 1% following the closure of its takeover offer for Aoxin Q & M Dental.
Singapore shares recovered to close higher on Tuesday even as some Asian markets flashed red in response to the Iran-Israel conflict.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,915.57 and 3,931.81 throughout the day. It ended the session at 3,930.64, up 22.18 points or 0.57% compared to Monday's close.
In economic news, Singapore's non-oil domestic exports or NODX, fell 3.5% year over year in May, reversing a 12.4% increase in the previous month, according to data released by Enterprise SG.
Shares of BBR were up nearly 5% at the close with the company securing contracts worth SG$220 million.
Baker Technology was down over 4% with the company expecting to book a net loss for the first half of the year compared with a net profit a year earlier.
Meanwhile, shares of Q & M Dental Group were down over 1% after its takeover offer for Aoxin Q & M Dental closed Monday, June 16.
