MENU

Three Shares That Failed To Beat The Market

StockMarketBoardThe Straits Times Index inched up 0.3% to 3,270 points following some encouraging economic news from China. The latest data showed that China’s trade surplus has improved more than expected, which could suggest that the world’s second-largest economy may be on the mend.

Although the benchmark index made headway, not all companies joined the party. Here are three companies that fared less well today.

Concerns over a challenging outlook for both air travel and the cargo market left shares in Singapore Airlines (SGX:C6L) unwanted. This is despite a modest rise in third-quarter profits. The Singapore flag carrier said troubles in the European economy and a weak recovery in the United States could keep load factor and yields under pressure. Additionally, the airline, whose shares lost 0.7% to $11.07, warned that the strength of the Singapore dollar posed another challenge.

Biosensors International Group (SGX:B20) fell 2.9% to $1.33 after the innovative medical device maker posted a small dip in third-quarter profits. The company said it earned 1.39 US cents a share down from 1.60 US cents after adjusting for warrants and goodwill on its in interest in JW Medical Systems. Biosensors said it has recently received CE Mark approval for its polymer-free drug-coated stent and has successfully raised S$300m of funding.

Shares in Great Eastern Holdings (SGX:G07) slipped 0.4% to 9.11 despite posting record full-year profits of $1.19b. The insurer, which is a subsidiary of Overseas-Chinese Banking Corporation, said it made a gain of $422m after tax from the sale of its stake in Asian Pacific Breweries and the conglomerate Fraser & Neave. But even excluding the one-off gain, profits would still be almost double that of last year.

The Motley Fool’s purpose is to help the world invest, better. Click here now for your FREE subscription to Take Stock — Singapore, The Motley Fool’s free investing newsletter. Written by David Kuo, Take Stock — Singapore tells you exactly what’s happening in today’s markets, and shows how you can GROW your wealth in the years ahead. 

The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo doesn’t own shares in any companies mentioned.