Singapore Shares Incur Losses as US-Iran Talks in Danger; Hong Leong Asia Up 7%
Singapore shares closed lower on Wednesday, tracking mixed fortunes across the region, with the US and Iran talks in Islamabad in jeopardy with the latter yet to officially confirm its participation.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,988.45 and 5,014.10 throughout the day. It ended the session at 5,002.72, down 12.24 points or 0.2% compared to Tuesday's close.US President, Donald Trump, extended the ceasefire with Tehran upon Pakistan's request to grant Tehran more time to forward its proposal.On the corporate front, shares of Hong Leong Asia (SGX:H22) surged over 7% at the close as it completed the acquisition of Yong Tai long for SG$90.7 million.Sheffield Green (SGX:SGR) closed over 5% lower as it rebranded its training subsidiary, Wind Asia Training and Stier Training Services to Trainergy.Meanwhile, shares of Sanli Environmental (SGX:1E3) was down over 2% at the close, with the company targeting to raise between SG$3 million and SG$5 million from the issuance of six-month series 2 commercial bonds on the ADDX Exchange.