Singapore Shares Muted as MAS Looks to Boost Stock Market; Vallianz Surges 13%
Singapore's stock market closed lower on Monday, with the Straits Times Index ending at 3,927.75, down 0.06%. The Monetary Authority of Singapore plans to rejuvenate the stock market. Vallianz shares surged 13% after reporting a profit of $18.0 million, while Raffles Medical shares rose nearly 7% with a profit increase to SG$31.6 million. In contrast, Sats shares fell over 3% despite a 124% profit surge to SG$70.4 million.
Singapore's stock market closed lower on Monday, responding to the Monetary Authority of Singapore's plans to rejuvenate the city-state's stock market.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,923.28 and 3,951.64 throughout the day. It ended the session at 3,927.75, down 2.19 points or 0.06% compared to Friday's close.
In economic news, Singapore's MAS core inflation, which excludes the cost of accommodation and private transport, fell to 0.8% year on year in January, from 1.7% in December 2024, due to lower inflation across all broad core categories.
In company news, Vallianz's shares surged nearly 13% after the company reported a higher attributable profit to owners of the company of $18.0 million during the second half of 2024 from SG$4.1 million a year earlier.
Raffles Medical's shares were up nearly 7% at the close after its attributable profit rose 4.3% in the second half of 2024 to SG$31.6 million from SG$30.3 million a year earlier.
Meanwhile, shares of Sats were down over 3% even after the company's attributable profit to owners surged 124% in the fiscal quarter ended Dec. 31, 2024, to SG$70.4 million from SG$31.5 million a year earlier.
