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Singapore shares drop to two-month low on tighter Covid-19 curbs


Investors sold off Singapore stocks yesterday after the Government tightened Covid-19 restrictions in response to a rise in the number of community infections.
The Straits Times Index closed 2.2 per cent down at 3,055.02 points, the lowest level since March 8.
The sell-off cut this year s gain to 7.57 per cent, lower than the 13.2 per cent the index had clocked up in the first four months.
From tomorrow to June 13, dining in at restaurants and food courts will be prohibited and social gatherings will be limited to two people, Singapore s multi-ministry task force on Covid-19 said yesterday.
Working from home will once again be the default and employers have to ensure that staff who can work from home do so. ....

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GameStop shares jump after Reddit darling raises US$551 million for e-commerce push


BENGALURU (REUTERS) - GameStop has raised US$551 million (S$730.4 million) through an equity offering as the videogame retailer accelerates its shift to e-commerce, sending its shares 15 per cent higher in extended trading on Monday (April 26).
Based on Reuters calculation, the average price of the shares sold was US$157.43.
The company s stock has gained more than 850 per cent this year thanks to a push by retail investors to drive up prices of heavily shorted stocks.
GameStop said earlier this month George Sherman will step down as its chief executive officer in the biggest management shakeup at the retailer, giving top shareholder Ryan Cohen more control. ....

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