Soft US Jobs Report Sparks Surge in Singapore Shares; Acrophyte Hospitality Trust Slides 8%

MT Newswires
1 hour ago

Singapore stocks surged on Monday, tracking broader regional gains as a softer US jobs report eased interest rate worries.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,632.01 and 5,674.02 throughout the day. It ended the session at 5,664.33, up 29.51 points or 0.5% compared to Friday's close.

In economic news, Singapore's total retail sales rose 0.7% year over year to SG$4.5 billion in August, following a 1.3% increase in July, according to data released by the Department of Statistics.

On the corporate front, shares of Acrophyte Hospitality Trust (SGX:XZL) fell over 8% at the close as it reinstated and amended its agreement with Viator Hotels for the sale of the Hyatt Place Atlanta Norcross Peachtree Corners for $7.1 million.

iWOW Technology (SGX:NXR) closed nearly 2% higher as it received a purchase order worth around SG$3 million from a Middle Eastern government organization for the supply, deployment and maintenance of its electronic monitoring system.

Meanwhile, UMS Integration (SGX:558) was up nearly 1% as it received a listing and quotation notice from the Singapore Exchange for up to 52.9 million shares.

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