Singapore shares clawed back to gain nearly 1% on Wednesday, tracking broader regional gains as investors continue to monitor the US-Iran developments.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,674.23 and 5,735.68 throughout the day. It ended the session at 5,735.68, up 55.22 points or nearly 1% compared to Monday's close.
On the corporate front, shares of Kingsmen Creatives (SGX:5MZ) were up nearly 2% at the close as its unit, Kingsmen Exhibits, secured a design and build contract worth around SG$30 million for the National Service-Themed Gallery in Singapore.
Acrophyte Hospitality Trust (SGX:XZL) said it remains in discussions with sponsor Tang Organization over a potential transaction linked to its stapled securities.
Meanwhile, Samudera Shipping Line (SGX:S56) closed over 1% higher as it increased its investment in Samudera Ship Holdings via the subscription of 20.3 million shares at $1 per share, for an aggregate amount of $20.3 million.