Singapore shares extended their winning streak on Tuesday, despite mixed regional showings, as hopes of a peace deal between the US and Iran were lifted following comments made by the US President Donald Trump.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,001.85 and 5,072.34 throughout the day. It ended the session at 5,072.34, up 75.59 points or 1.5% compared to Monday's close.
Trump disclosed that a planned military strike against Iran had been deferred following direct intervention and mediation requests from Qatar, Saudi Arabia, and the UAE.
On the corporate front, shares of Frencken Group (SGX:E28) closed nearly 8% lower, as its profit attributable to equity holders fell 20% during the first quarter of the year to SG$8 million from SG$10 million a year earlier.
Ever Glory United (SGX:ZKX) was up nearly 4%, as it secured new contracts worth SG$230 million, taking the company's total order book to more than SG$900 million.
Meanwhile, shares of Geo Energy Resources (SGX:RE4) closed over 4% lower, as it signed non-binding agreements to support the operations and development of Harfa Taruna Mandiri, the Indonesian mine operator it intends to buy.
