Singapore Shares Incur Losses as US Carries Out Strikes on Iran
Singapore shares closed in red on Wednesday, losing more than 1%, tracking regional losses as investor sentiment took a hit following a series of strikes on Iranian military sites by the US following the downing of an American helicopter.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,939.53 and 5,015.17 throughout the day. It ended the session at 4,958.85, down 64.40 points or 1.3% compared to Tuesday's close.On the corporate front, shares of Wee Hur Holdings (SGX:E3B) were up over 2% at the close as the developer acquired a 26-story office tower in Hong Kong named One Bedford Place.Pan-United's (SGX:P52) shares were down over 1% as its subsidiary, AiR Digital Solutions, secured an ISO/IEC certification for its AI-powered operations management platform.Meanwhile, Singapore Post (SGX:S08) unveiled a SG$30 million automated sortation hub at the Tampines Regional eCommerce Logistics Hub.