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Singapore Shares End Higher; ARA US Hospitality Climbs 2% on Hyatt Place Chicago Itasca Deal

MT Newswires ·  {{timeTz}}

05:55 AM EDT, 03/17/2022 (MT Newswires) -- Singapore's Straits Times Index continued to trade in the positive territory on Thursday, as traders cheered soothing comments on the US economy by the Federal Reserve after it lifted interest rates.

During the day, the benchmark index ranged between 3,294.78 and 3,345.92 and ended at 1.01%, or 33.38 points, higher at 3,324.28.

In corporate news, ARA US Hospitality Trust's (SGX:XZL) shares climbed 2% at market close, after the trust disclosed that it is selling Hyatt Place Chicago Itasca, a six-story hotel with 126 rooms, located on freehold land in Itasca, a suburb of Chicago.

Marco Polo Marine (SGX:5LY) closed nearly 4% higher on Thursday, as it teamed up with green tech ship design company Seatech Solutions International (S) to jointly develop two new specialized offshore wind services, operations and maintenance vessels.

Southern Alliance Mining's (SGX:QNS) shares slipped 3% at Thursday's close, as the company's after-tax profit plummeted 62.4% to 19.4 million ringgit ($4.6 million) in the fiscal first half ended Jan. 31, from 51.4 million ringgit a year earlier.

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