Singapore Shares Continue to Rise Despite Regional Decline, Surge in US Inflation; Tiong Seng Down 7%
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Singapore shares rose on Wednesday, with the Straits Times Index (STI) closing at 4,132.25, up 0.3% despite regional market declines following a spike in US inflation. Tiong Seng shares surged over 7% after liquidating its subsidiary, while Mapletree Logistics Trust gained nearly 1% after divesting a property. Samko Timber reported a profit of 2.171 trillion Indonesian rupiah for the first half of the year, recovering from a loss of 549.8 billion rupiah a year prior.
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