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SingPost stock up on postage hike news

Shares up as much as 3.2% in early trade, then lose steam for 1.2% gain

Published Wed, Sep 3, 2014 · 10:00 PM

SHARES of Singapore Post (SingPost) ticked up by as much as 3.2 per cent to S$1.78 on Wednesday on news of an upward revision in postage rates - the first since 2006 - to mitigate escalating costs. But the initial surge failed to hold, with the stock ending the day at S$1.745, up two cents or 1.2 per cent.

The postal group's shares opened about 3 per cent higher at S$1.745, up from Tuesday's closing price of S$1.725.

The stock hit a hig…

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