Singapore shares closed in the red zone on Wednesday, tracking broader regional losses amid a sharp overnight sell-off in technology shares on Wall Street.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,643.17 and 5,694.24 throughout the day. It ended the session at 5,694.24, down 7.16 points or 0.1% compared to Tuesday's close.
On the corporate front, shares of Medi Lifestyle (SGX:Z4D) plunged nearly 7% at the close as it disclosed plans to raise about SG$8.8 million through the placement of 178.6 million new shares at SG$0.049 each.
Raffles Education's (SGX:NR7) closed nearly 1% higher as its subsidiary, Langfang Hezhong Education Consulting, signed a compensation agreement worth 293.3 million yuan for the compulsory government reclamation of land in Hebei Province, China.
Meanwhile, shares of Singapore Telecommunications (SGX:Z74) closed under 1% lower as S&P Global Ratings upgraded its issuer credit ratings to A+/A-1 from A/A-1.
