Asia
Singapore Shares Extend Gains Over US-Iran Peace Optimism; Mary Chia Slumps 12%
Singapore shares extended gains on Wednesday, tracking broader regional gains as investor confidence rose backed by the possibility of the US and Iran continuing their dialogue to end hostilities.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,010.14 and 5,038.13 throughout the day. It ended the session at 5,021.20, up 13.63 points or 0.3% compared to Tuesday's close.The US and Iran are seeking another round of talks in the coming days, with US president, Donald Trump, revealing that talks could resume "over the next two days" in Pakistan.On the corporate front, shares of Mary Chia (SGX:5OX) slumped nearly 12% at the close as its subsidiary, Organica International, initiated legal proceedings against Fullink Capital in the General Division of the Singapore High Court.Yangzijiang Maritime Development (SGX:8YZ) close nearly 5% higher as it secured lease agreements covering 13 vessels worth $89.8 million.Meanwhile, Fraser and Neave (SGX:F99) closed over 1% higher with the company outlining plans to invest up to NZ$20.1 million in the fundraising of Comvita (NZE:CVT), a provider of manuka honey and natural health products.
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