Singapore Shares Recover to Surge as Trump Hints at Deal with Iran; Mun Sion Engineering Plunges 9%
Singapore shares surged more than 1% on Tuesday, tracking regional gains, as markets reacted positively to news that the US president, Donald Trump, could be set to conclude a peace deal with Iran.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,964.66 and 5,026.76 throughout the day. It ended the session at 5,023.25, up 59.58 points or 1.2% compared to Monday's close.On the corporate front, shares of Mun Siong Engineering (SGX:MF6) slid over 9% at the close as it named Kirk Keng Chong as its group chief financial officer, effective June 8.Mooreast (SGX:1V3) was down over 9% as it raised around SG$6 million through the private placement of around 44.5 million shares at SG$0.135 apiece.Meanwhile, shares of Ley Choon Group (SGX:Q0X) were up over 2% as it secured underground utilities service contracts worth SG$24.5 million.