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Singapore Shares Recover at Market Close After Mid-Day Fall; IFAST's Shares Jump 5% as Profit Balloons 917% in Q4 2023

MT Newswires ·  Feb 22 17:35

Singapore Strait Times Index stocks fell on Thursday mid-day before mounting a recovery by day end to close higher, despite overnight losses in global markets.

During the day, the benchmark index ranged between 3,198.02 and 3,226.21, ending 0.18% or 5.83 points higher at 3,222.94.

In corporate news, IFAST's (SGX:AIY) profit attributable to owners zoomed 917% to SG$13.2 million in the fourth quarter of 2023, from SG$1.3 million a year earlier, sending the company's shares up 5% at market close.

In other company news, China Shenshan (SGX:BKV) closed 30% higher on Thursday, despite the company stating that it expects to log a lower year on year net profit in 2023.

Asiaphos (SGX:5WV) share surged nearly 29% on Thursday's close after the company said it expects to book a profit after tax in the fourth quarter and full year ended Dec. 31, 2023, as against a loss after tax recorded in the year-ago period

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