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Singapore Shares in Green as US-Iran Continue with Peace Negotiations

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Singapore shares closed higher on Monday, with investor sentiment given a boost as dialogue between the US and Iran for lasting peace continued.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,204.01 and 5,174.30 throughout the day. It ended the session at 5,204.01, up 11.31 points or 0.2% compared to Friday's close.

On the corporate front, shares of Asiatic Group (SGX:5CR) plunged over 25% as it agreed to dispose of a 49% stake in Colben Energy (Cambodia) to the chairman of its joint venture partner, Royal Group Phnom Penh, for $3.1 million.

MetaOptics (SGX:9MT) closed nearly 2% as it received a revised listing and quotation notice from the SGX-ST for up to 121.3 million new shares to support its proposed listing on the Nasdaq exchange via American Depository Shares.

Meanwhile, shares of Frasers Logistics & Commercial Trust (SGX:BUOU) were down nearly 2% at the close as it signed two five-year property management agreements.

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