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Singapore Shares Surge as US, Iran Pause Attacks

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Singapore shares surged on Monday, tracking broader regional gains as the US and Iran paused attacks on one another for a second consecutive day.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,549.18 and 5,620.68 throughout the day. It ended the session at 5,620.24, up 31.90 points or 0.6% compared to Friday's close.

On the corporate front, shares of Raffles Medical (SGX:BSL) dropped over 4% at the close as its attributable profit to owners dropped 9.6% during the first half of the year to SG$29.0 million from SG$32.1 million a year earlier.

iFast's (SGX:AIY) shares closed nearly 3% lower as its net profit after tax rose 35% in the second quarter of the year to SG$29.8 million from SG$22.1 million a year earlier.

Far East Orchard's (SGX:O10) 239-bed purpose-built student accommodation development in Manchester, UK, has secured a Gateway 2 approval.

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