3 Shares That Lost To The Market Today

The Straits Times Index (SGX: ^STI) continued its losing streak today with a 1% decline to 3,331 after falling by 1.1% yesterday. We were not alone as Japan’s Nikkei 225 Index went down by more than 5% to 13,589, the lowest it has been since April 22.

Bringing the action back to home, the STI’s fall was due to a broad decline in most of its 30 components as only eight of them managed to eke out some gains. Let’s take a look at some of the biggest losers.

Global Logistics Properties (SGX: MC0) holds prime position with a 3.2% slide to S$2.76. The logistics facilities provider reported its full year results last week and posted a 21% increase in earnings per share to US$0.1395. The earnings growth was accompanied by a hike in the company’s dividends to S$0.04 per share from S$0.03 a year ago.

Olam International (SGX: O32) was another big loser as its shares were down by 2.2% to S$1.80. Last week, the agriculture-related company released the third year results of its Olam Liverlihood Charter (OLC). The Charter aims to “generate mutual value for smallholders, customers, NGOs and ultimately, shareholders”. Some interesting numbers from the results-release include; a 388% jump to 313,476 in the number of farmers that are involved with the OLC; a total of US$118.6m in interest-free microfinance loans that were loaned out to those 313,476 farmers; and reaching out to more than 99,000 people over three years for HIV/AIDS-related programmes dealing with prevention, awareness, education and counselling.

Outside the STI, we see Fortune REIT (SGX: F25U) as one of the ‘casualties’ – its units were down by 6.3% to HK$7.30. The real estate investment trust, which owns 16 retail malls and properties in Hong Kong, posted a 16.3% year-on-year increase in quarterly distributable income from HK$131.8m to HK$153.3m in its first quarter results for 2013 that was released on 9 May 2013.

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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.