Singapore Shares Surge on US-Iran Deal; VibroPower Surges 25%
Singapore shares surged on Monday, tracking regional gain as investors' sentiment was boosted by the US and Iran's deal to reopen the Strait of Hormuz.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,061.05 and 5,095.12 throughout the day. It ended the session at 5,077.29, up 51.49 points or 1% compared to Friday's close.In economic news, Singapore's total employment increased by 9,400 in the first quarter, extending its growth streak to 18 consecutive quarters, according to a Ministry of Manpower report.On the corporate front, shares of VibroPower (SGX:BJD) surged over 25% at the close as it granted an option to purchase its Tuas Avenue 16 industrial property to Ecorecycling for SG$3.9 million.Global Testing (SGX:AYN) surged nearly 8% as it completed all regulatory requirements for its capital reduction exercise, leading the way for cash distribution to entitled shareholders.Meanwhile, shares of Annica Holdings (SGX:JFQ) closed nearly 3% higher as it secured a commercial solar-hydrogen project in Sarawak, Malaysia.