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Singapore Shares Surge, Track Regional Gains as US Fed Reserve Rate Hike Chances Drop

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Singapore shares surged over Friday, tracking regional gains as investor sentiment improve due to slimming chances of the US Federal Reserve hiking interest rates.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,754.11 and 5,828.50 throughout the day. It ended the session at 5,801.96, up 54.25 points or 0.9% compared to Thursday's close.

On the corporate front, shares of Aspen (Group) (SGX:1F3) fell over 4% at the close as it completed the disposal of its entire 40% stake in joint venture company, Tanjing Bungah Development.

Addvalue Technologies (SGX:A31) closed nearly 3% higher as it secured new orders worth $5 million across its two key growth business.

Meanwhile, World Precision Machinery (SGX:B49) has completed the fifth tranche payment of 35 million yuan on Sept. 1 for its acquisition of hospitality assets from Hainan Xinglong Pearl Investment.

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