Singapore Shares Claw Back Despite US Reinstating Iran Blockade
Singapore shares surge on Tuesday, despite the US president Donald Trump reinstating a blockade in the Gulf.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,411.59 and 5,501.31 throughout the day. It ended the session at 5,495.61, up 25.27 points or 0.5% compared to Monday's close.In economic news, Singapore's economy grew 5.7% year over year in the second quarter, easing from 6.3% in the previous three months, according to advance estimates released by the Ministry of Trade and Industry.On the corporate front, shares of EuroSports Global (SGX:5G1) closed over 2% higher as its subsidiary, Scorpio Electric, completed an on-road registration of its Lambda Scorpii electric motorcycle in Singapore.Lum Chang Creations (SGX:LCC) is set to transfer its listing from the Catalist board to the Mainboard of the Singapore Exchange on Thursday.Meanwhile, Singapore Shipping (SGX:S19) Chief Operating Officer Lim Bee Lan will step down from her role at subsidiary Island Line, effective Aug. 14, citing personal reasons.
