Singapore Shares Close in Red Despite Decline in Oil Prices; Multi-Chem Plunges 38%
Singapore shares closed lower on Friday, despite regional markets reacting positively to a pullback in oil prices.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,621.76 and 5,661.82 throughout the day. It ended the session at 5,656.11, down 4.41 points or 0.1% compared to Thursday's close.On the corporate front, shares of Multi-Chem (SGX:AWZ) plunged nearly 39% at the close as its CEO Foo Suan Sai and COO Han Juat Hoon were interviewed by Singapore's Corrupt Practices Investigation Bureau (CPIB) and asked to provide bail and surrender their passports and mobile phones.Aspial Lifestyle (SGX:5UF) closed nearly 3% lower even though Moody's Ratings assigned it a Ba1 long-term foreign currency and local currency issuer ratings with a stable outlook.Meanwhile, Astaka (SGX:9SY) completed the proposed share consolidation of every 10 shares into one consolidated share.
