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Three Shares That Beat the Market Today

StockMarketBoardThe local stock market seemed to have shaken off any worries about the Cyprus banking-bailout as the Straits Times Index (SGX: ^STI) posted a 0.6% gain to 3,289 points. There were some big gainers in the benchmark index, chiefly Hongkong Land Holdings  (SGX: H78).

Hongkong Land had a good day today, up 6.2% to $7.56. Shareholders of the company will have much to cheer about as shares in the property owner, manager and developer had already gained over 4% last week.

Hongkong Land, which is a subsidiary of conglomerate Jardine Strategic Holdings (SGX: J37), saw its net profit for 2012 fall by 73% to US$1.44b. But on closer inspection, the company’s underlying profit last year, which excludes non-trading items such as gains from property revaluations, actually grew by 11% to US$777m. Management believes that underlying profit is a key measure that can help to ‘enhance understanding of the Group’s underlying business performance’.

United Overseas Bank (SGX: U11) jumped 1.3% to end the day at $20.05. Last week, the bank released a new service that allows local credit-card users to make online purchases from retailers who previously did not accept Singapore-issued credit cards. It is likely a move by UOB to improve its credit-card business, which brought in S$240m in income last year, representing 3.7% of the bank’s total income of S$6.5b.

Another blue-chip that beat the market today with a 3.1% gain to $1.50 was Genting Singapore (SGX: G13). The casino, resort and theme park operator’s earnings per share fell by 43% last year to $0.048. Shareholders also received a dividend of $0.01 per share, which translates into a dividend yield of 0.67%. This is considerably lower than the market average of around 2.4%. The company is also looking to build a 500-room hotel that is expected to open in 2015 at Jurong Town Hall Road to generate more non-gaming revenue.

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