Singapore Shares End Week in Green as Investors Take Optimism From Strong US Retail Data
Singapore shares ended the week positively, influenced by strong US retail data and robust earnings from major Wall Street firms. The Straits Times Index (STI) closed at 4,189.50, up 0.67%. Notable company movements included Advanced Systems Automation, which surged over 33% amid ongoing investigations into fund misappropriation, and TeleChoice International, which rose over 11% after receiving approval to exit the Watch-List. Food Empire shares increased nearly 7% following a strategic partnership with Capital A to launch new ready-to-drink beverages.
Singapore shares ended the week on a high note, tracking gains across regional indices as investors responded positively to healthy US retail data and strong earnings from Wall Street's heavy hitters.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,164.25 and 4,192.19 throughout the day. It ended the session at 4,189.50, up 28.07 points or 0.67% compared to Thursday's close.
In company news, shares of Advanced Systems Automation surged over 33% at the close after the company said that it will continue its investigations over alleged misappropriation of funds involving former chief executive officer, Seah Chong Hoe.
TeleChoice International was up over 11% as it received in-principle approval from the Singapore Exchange Securities Trading for its application to exit from the Watch-List.
Meanwhile, shares of Food Empire were up nearly 7% at the close as the company and Capital A (KLSE:5099), through their respective subsidiaries, Empire International and Santan Food Services, entered into a strategic partnership to develop and launch a new range of ready-to-drink beverages.
