Concerns over US inflation ease, lifting Singapore shares; STI up 0.79% to 3,175.81
SINGAPORE shares started the week with gains as the Straits Times Index (STI) rose 0.79 per cent or 24.77 points to 3,175.81 points, after below-expectations US non-farm payroll data eased inflation fears and lifted US stock markets last Friday.
Metal Component Engineering posted over 140 per cent gains to S$0.09 amid heavy trading of about 252.7 million shares on the Catalist board.
The firm made a regulatory filing around noon on "the substantial increase in the trading volume and share price", and said it is currently considering a potential acquisition. It added there is no assurance that any definitive or binding agreement will be reached or that any transaction will materialise.
Aspen (Group) Holdings shares slid 8.29 per cent to S$0.188 on Monday, when the diversified group in property development, healthcare and food and beverage businesses updated in a regulatory filing pre-trading that the financial impact of the movement restrictions to curb covid infections in both sides of the Causeway is not known yet.
It also said last Friday evening that there has not been any progress in the US$210 million supply agreement with Honeywell that has not been consummated.
Losers trailed gainers 212 to 282 in the broad market amid a trading volume of 2.79 billion securities worth S$1.10 billion.
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Markets in Asia had a mixed performance. Hong Kong's Hang Seng Index slid 0.45 per cent to 28,787.28 points; Australia's S&P/ASX 200 Index shed 0.18 per cent to 7,281.89 points.
South Korea's Kospi Index rose 0.37 per cent to a record close of 3,252.12, while Japan's Nikkei 225 Index was up 0.27 per cent to 29,019.24 points, as inflation concerns were mitigated by the US job data. Shanghai Composite Index was 0.21 per cent higher at 3,599.54 points.
Malaysia's Bursa was closed for a holiday on Monday.
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