Singaporean Shares Soar on Wednesday; Addvalue's Shares Surge 14% on New IDRS Order

Singapore's Strait Times Index ended higher on Wednesday, following higher than expected growth in the country's manufacturing output in February.

During the day, the benchmark Singapore Strait Times Index ranged between 3,242.36 and 3,262.52, ending 0.57% or 18.38 points higher at 3,251.71.

In company news, shares of Addvalue Technologies AA31 soared 14% at market close after the company secured a new order for its inter-satellite data relay system terminals worth around $2.1 million.

Shares of Banyan Tree Holdings B58 were down 1%, as the company confirmed its collaboration with Maybank Singapore for its first ever sustainability-linked senior unsecured syndicated term loan facility.

Meanwhile, shares of SunMoon Food AAAJ were up nearly 11% at the close, as the company signed a non-binding term sheet to issue up to SG$4 million of two-year zero coupon convertible notes to Beijing Mai Yourui Technology Development.