Latest news with #SingaporeLand
Business Times
02-07-2025
- Business
- Business Times
UOL leads STI to record high of 4,010.77
[SINGAPORE] Singapore's benchmark index reached a milestone on Wednesday (Jul 2), breaching the 4,000-point threshold at the close. The Straits Times Index (STI) achieved a record high of 4,010.77, up 0.53 per cent or 21.01 points as Singapore attracts investors seeking safe haven from geopolitical risks. Other regional bourses, as well as Wall Street last night, closed mixed. Over in the city-state, gainers beat decliners 302 to 186 across the broader market as 1.3 billion securities worth S$1.5 billion were transacted. Property company UOL led the rise on STI, logging a 7 per cent or S$0.44 increase to S$6.70, after the court on Tuesday approved the S$810 million en bloc sale of Thomson View to UOL, CapitaLand Development and Singapore Land . The court's approval also lifted the shares of Singapore Land by 3.6 per cent or S$0.08 to S$2.33. Del Monte Pacific shares tanked 4.7 per cent or S$0.003 to S$0.061, after the food manufacturer lifted a trading halt upon announcing it had transferred its 25 per cent equity in its US subsidiary Del Monte Foods Holding to the unit's lenders following its decision not to provide it with funding. Del Monte Foods, meanwhile, has filed for bankruptcy protection in the US. Del Monte Pacific also said it is in the process of assessing the financial impact that the deconsolidation of the subsidiary might have on the group as well as any value to be impaired, given it has over US$700 million exposure to the unit.
Straits Times
02-07-2025
- Business
- Straits Times
STI closes at record high of 4,010.77 as investors seek safe haven
Sign up now: Get ST's newsletters delivered to your inbox Trading volumes were robust as well, with 1.3 billion securities worth $1.5 billion transacted. SINGAPORE – Overseas investors seeking a safe haven amid global uncertainty helped propel local shares to a record close on July 2, smashing through the elusive 4,000-point level in the process. While other markets – including Wall Street – were mixed, the Straits Times Index (STI) was surefooted as it beat a steady path north, eventually closing at 4,010.77, up 0.53 per cent or 21.01 points. Trading volumes were robust as well, with 1.3 billion securities worth $1.5 billion transacted while the 302 gainers left 186 losers in the dust. Developer UOL led the rise on the STI, logging a 7 per cent increase to a 52-week high of $6.70, after a court approved the $810 million en-bloc sale of Thomson View to UOL, CapitaLand Development and Singapore Land. Singapore Land also rose, up 3.6 per cent to $2.33. Del Monte Pacific tanked 4.7 per cent to a 52-week low of 6.1 cents when the food manufacturer lifted a trading halt after announcing it had transferred its 25 per cent equity in its US unit, Del Monte Foods Holding, to its lenders following its decision not to provide it with funding. Del Monte Foods, meanwhile, has filed for bankruptcy protection in the US. Australian shares were the regional standout with expectations of another interest rate cut pushing the ASX 200 up 0.7 per cent and just ahead of the record high it set three weeks ago. Other bourses were mixed. Malaysian shares and the Hang Seng in Hong Kong added around 0.6 per cent but the Nikkei in Tokyo slipped 0.56 per cent while Seoul's Kospi fell 0.47 per cent. Those results mirrored a lacklustre session on Wall Street overnight as traders were diverted by the fractious but ultimately successful battle to get President Trump's tax-and-spending bill through the Senate.
Business Times
02-07-2025
- Business
- Business Times
STI closes at record high of 4,010.77 as investors seek safe haven
[SINGAPORE] Singapore's benchmark index reached a milestone on Wednesday (Jul 2), breaching the 4,000-point threshold at the close. The Straits Times Index (STI) achieved a record high of 4,010.77, up 0.53 per cent or 21.01 points as Singapore attracts investors seeking safe haven from geopolitical risks. Other regional bourses, as well as Wall Street last night, closed mixed. Over in the city-state, gainers beat decliners 302 to 186 across the broader market as 1.3 billion securities worth S$1.5 billion were transacted. Property company UOL led the rise on STI, logging a 7 per cent or S$0.44 increase to a 52-week high of S$6.70, after the court on Tuesday approved the S$810 million en bloc sale of Thomson View to UOL, CapitaLand Development and Singapore Land . The court's approval also lifted the shares of Singapore Land by 3.6 per cent or S$0.08 to S$2.33. Del Monte Pacific shares tanked 4.7 per cent or S$0.003 to a 52-week low of S$0.061, after the food manufacturer lifted a trading halt upon announcing it had transferred its 25 per cent equity in its US subsidiary Del Monte Foods Holding to the unit's lenders following its decision not to provide it with funding. Del Monte Foods, meanwhile, has filed for bankruptcy protection in the US. Del Monte Pacific also said it is in the process of assessing the financial impact that the deconsolidation of the subsidiary might have on the group as well as any value to be impaired, given it has over US$700 million exposure to the unit.
