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Singapore Shares Incur Losses as Oil Prices Surge; IREIT Global Down 5%

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Singapore shares incurred losses on Monday as the Middle Eastern conflict continued to impact oil prices.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,486.50 and 5,541.82 throughout the day. It ended the session at 5,498.95, down 10.48 points or 0.2% compared to Friday's close.

On the corporate front, shares of IREIT Global (SGX:UD1U) closed over 5% lower as its subsidiaries that hold the Berlin Campus in Germany, submitted a statement of defense to the Regional Court, in response to a statement of claim filed by DRV, a former tenant.

Shares of CapitaLand Integrated Commercial Trust (SGX:C38U) were down nearly 1% at the close as it signed a lease agreement with City Energy for units at The Atrium@Orchard.

Meanwhile, Far East Orchard (SGX:O10) disclosed the Singapore Court of Appeal on Friday ruled that an equitable rescission claim against its associated company, FEOpus, will proceed to trial.

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