Singapore Shares Slide as US-Iran Switzerland Talks Called Off
Singapore shares snapped their winning streak on Friday as the US-Iran negotiations in Burgenstock, Switzerland were called off following Israel's airstrikes on Lebanon.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,159.95 and 5,226.03 throughout the day. It ended the session at 5,192.70, down 20.14 points or 0.4% compared to Thursday's close.On the corporate front, Lum Chang Creations (SGX:LCC) creations was down over 3% as its parent, Lum Chang (SGX:L19), proposed to sell up to 12.3 million shares for around SG$9.3 million, as part of regulatory requirements for the unit's proposed transfer to the Mainboard of the Singapore Exchange Securities Trading.Meanwhile, shares of Mooreast (SGX:1V3) were up nearly 1% at the close as the mooring company agreed to assume the SG$13.0 million shareholder loan of subsidiary Mooreast Asia and extend its maturity by five years to Nov. 23, 2031.
