Singapore's shares closed higher once more after the S&P 500 and Dow registered record closing highs overnight, despite concerns about the US Justice Department's criminal investigation of Federal Reserve Chair Jerome Powell.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,778.31 and 4,809.35 throughout the day. It ended the session at 4,807.13, up 40.35 points or 0.9% compared to Monday's close.
In corporate news, Coilwoo (SGX:W8W) gained nearly 3%, as it completed the disposal of its 80% stake in Coliwoo PP after the conditions precedent were fulfilled.
Shares of Hong Leong Asia (SGX:H22) were up nearly 3% as well at the close, as its New York Stock Exchange-listed arm, China Yuchai International's subsidiary, Guangxi Yuchai Machinery, acquired a 27.97% stake in Nanyue Diankong (Hengyang) Industrial Technology.
Meanwhile, shares of King Wan (SGX:554) rose nearly 2% as it completed the placement of 70 million shares at SG$0.05 per share under a subscription agreement to raise SG$3.5 million.
STI up 0.9%; Keppel, SingPost up 3%; Yangzijiang Shipbuilding, Seatrium, UOL up 2%; Nio, SGX, OCBC, DBS up 1%.
