Singapore shares close relatively flat on Tuesday as Asian markets stabilise

SINGAPORE stocks ended 0.1 per cent lower on Tuesday, with the Straits Times Index retreating 3.04 points to close at 3,235.9 after reaching an intraday high of 3,239.91.

Asian markets were lifted from earlier lows before European bourses opened, but investors continued to worry over looming US-China tariffs and a July 6 deadline when Washington is set to impose tariffs on US$34 billion worth of Chinese exports to the United States.

Losers outnumbered gainers 202 to 176, or about eight down for every seven up, as some 1.84 billion shares worth S$1.13 billion in total changed hands.

The most actively traded counter was Genting Singapore, which was flat at S$1.21 with 54.37 million shares changing hands. Other actives included Ezion and Nico Steel.

Liftboat operator Ezion Holdings on Tuesday said that it has entered into loan agreements with all secured lenders pursuant to its refinancing exercise, and the extension of additional working capital of up to US$118 million.

The issue of its proposed warrants to secured lenders and TLF (term loan facility) consent shares have also been completed on July 2, the company announced.