Singapore Shares Surge as Tariff Uncertainty Lingers; Pavillon Surges 15%
Singapore shares rose on Tuesday amid ongoing tariff uncertainties from Donald Trump's trade war, with the Straits Times Index closing at 3,896.09, up 0.53%. Pavillon's shares surged over 15% after selling 2,261,000 shares in Lingbao Gold. Boustead Singapore's shares increased nearly 5% following a 58% profit jump to SG$59.1 million in fiscal H2. The Hour Glass saw a nearly 1% rise after acquiring an Australian SPV for AU$90 million.
Singapore shares ended higher on Tuesday with investors keeping one eye on more updates from Donald Trump's trade war, with Washington making a beeline for Europe with a 50% tariff.
Meanwhile, regional indices ended mixed today with Wall Street closing shop for Memorial Day.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,871.81 and 3,896.09 throughout the day. It ended the session at 3,896.09, up 20.49 points or 0.53% compared to Monday's close.
In company news, shares of Pavillon surged over 15% at the close with the company disposing another 2,261,000 shares in Lingbao Gold at HK$9.04 per share.
Boustead Singapore's shares were up nearly 5% with the company's attributable profit to equity holders jumping 58% during fiscal H2 to SG$59.1 million from SG$37.3 million a year earlier.
Meanwhile, shares of The Hour Glass were up nearly 1% after its wholly-owned subsidiary, The Hour Glass Australia, completed the acquisition of an Australian SPV for a consideration of AU$90 million.
