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Singapore Shares Open Lower Amid Renewed Iran Strikes

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Singapore shares opened lower amid rising tensions in the Middle East, with the US renewing strikes on Iran, which has also led to a surge in oil prices.

The Straits Times Index opened lower by 0.40%, or by 22.01 points, at 5,537.71.

Crude oil prices continued to rise with Brent gaining for the fourth straight day to more than $85 a barrel, as concerns grow over further disruption in energy supplies.

Technology stocks also saw a sell-off, as investors booked gains on AI stocks and took a cautious approach over the sustainability of the artificial intelligence trade.

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