Singapore Shares Remain in Red Amid Fragile US-Iran Peace; Medi Lifestyle Down 10%
Singapore shares closed in the red zone on Friday, tracking regional losses, with investor sentiment taking a fresh hit after Iran warned the US of "full-scale resumption" of the conflict.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,041.58 and 5,084.00 throughout the day. It ended the session at 5,049.96, down 17.57 points, or 0.4%, from Thursday's close.In economic news, Singapore's total retail sales rose 5.4% year over year to SG$4.3 billion in April, according to the Statistics Department.On the corporate front, Medi Lifestyle (SGX:Z4D) plunged over 10% at the close as it reached an agreement with controlling shareholder, Chua Yi Hang, to offset part of a shareholder loan.Shares of Gallant Venture (SGX:5IG) closed over 5% higher as its unit, PT Batamindo Investment Cakrawala, secured financing for the development of a coal-fired power plant in Indonesia.Meanwhile, shares of Civmec (SGX:P9D, ASX:CVL) were up over 1% as it secured a series of new contract awards, panel extensions and orders across its resources, infrastructure, energy and maintenance divisions, lifting its order book to a record AU$1.5 billion.