Singapore Shares Decline, Track Regional Losses Over Rising Oil Prices; IRET Global Surges 19%

MT Newswires09-08 17:38

Singapore shares fell on Tuesday, mirroring broader regional losses as investor sentiment took a hit over rising oil prices, fueled by an uncertain geopolitical situation in the Middle East.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,751.90 and 5,779.91 throughout the day. It ended the session at 5,767.45, down 24.83 points or 0.4% compared to Monday's close.

On the corporate front, shares of IREIT Global (SGX:UD1U) soared over 19% at the close as it signed a commercial lease agreement with Berlin's main public transport operator, Berliner Verkehrsbetriebe (BVG), to lease 39,419 square meters of space at its Berlin Campus.

Thakral (SGX:AWI) closed nearly 5% higher as it submitted a pre-clearance application to the Singapore Exchange for the proposed spin-off and separate listing of certain segments of its lifestyle business on the SGX Mainboard.

Meanwhile, Natural Cool Holdings (SGX:5IF) subsidiary Natural Cool Airconditioning & Engineering has acquired the remaining 25% stake in Natural Cool Aircon Distribution for SG$1.

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