Singapore shares closed higher on Thursday, tracking broader regional growth as markets reacted positively to a pause in oil price rally and anticipation of the US Central Bank delivering its first rate hike since 2023.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,637.86 and 5,671.13 throughout the day. It ended the session at 5,660.52, up 25.11 points or 0.5% compared to Wednesday's close.
In economic news, Singapore's non-oil domestic exports (NODX) exceeded forecasts in August expanding at the fastest pace since October 1988 as demand for electronic products surged due to artificial intelligence-related demand, according to data released by Enterprise Singapore.
On the corporate front, United Hampshire US REIT (SGX:ODBU) completed the divestment of its BJ Quincy property for $34 million.
Food Innovators (SGX:KYB) unit Food Innovators Japan has agreed to acquire the entire issued share capital of Malaysia-based Daruma Syokudo for 70 million yen.
Advanced Systems Automation (SGX:WJ9) said Zico Capital has applied to the Singapore High Court for an order requiring the company to provide S$42,000 in security for the latter's legal costs.