Sembmarine surges partly on renewed merger hopes

Singapore

SEMBCORP Marine (Sembmarine) shares rallied as high as nearly 13 per cent on Monday on relatively robust turnover with analysts attributing the surge to "beaten down cyclicals", a rise in crude prices and broader vaccine optimism.

Some think the latest leadership shifts at conglomerate Keppel Corp may also be another factor pushing up the stock at the start of this week.