Singapore shares closed higher on Thursday, mirroring a positive regional trend fueled by cooler-than-expected inflation data from the US.

The Straits Times Index or the STI was up 15.57 points, or 0.47%, closing at 3,304.99.

Sentiment was buoyed by the news that core inflation in the US hit its lowest level in three years. This eased concerns about the Federal Reserve raising interest rates, which could dampen global economic growth.

In corporate news, shares of Mermaid Maritime (SGX:DU4) fell 12.5% even after the company reported that it returned to a profit of $331,000 in the first quarter of 2024, against a loss of $4.9 million in the year-ago period.

Separately, Singapore Airlines (SGX:C6L) closed 1% lower on Thursday, as it posted a stable attributable profit in the fiscal second half amid a lower tax expense and a surplus on the disposal of aircraft, spares, and spare engines.