Three Shares That Lost To The Market Today

StockMarketBoardAfter yesterday’s 0.5% decline in the Straits Times Index (SGX: ^STI), the benchmark staged a mini comeback today – inching up 0.2% to 3,230 points. There weren’t any significant movers within the STI today ahead of the two-day midweek break – most of the action took place away from the large caps.

Hanwell Holdings (SGX: DM0) dipped 6.9% to $0.27. The company, whose business interests include the operation of iEcon mini-marts, grocery retail, and provision of healthcare solutions, posted a $427,000 loss in the second quarter.

That was an improvement on the $3.85m loss it suffered a year ago. The bulk of the current quarter’s loss came from its healthcare solutions segment which logged sales of only $29,000 and a loss of $1.17m. Hanwell’s management commented that they will “continue to adopt a cautious approach in reviewing [the healthcare solution segment’s] future.”

STATS ChipPAC (SGX: S24) joined the loser’s list with its shares down 4.2% to $0.35. The advanced-semiconductor packaging and test services provider’s second-quarter results were not well received by the market.

The company’s top line for the quarter slid 6.2% to $396m compared to a year ago, while its bottom line was $52.2m in the red. The bulk of the losses were due to plant-closure costs amounting to $36.5m. STATS had earlier announced its intention to shut down a Malaysian plant by the end of 2014 and to shift those operations to its plant in Qingpu in Shanghai.

Shares in luxury-watch retailer The Hour Glass Limited (SGX: E5P) slipped 3.4% to $1.70. The company posted a 6% fall in first-quarter earnings to $8.8m. It actually achieved sales of $155m for the quarter, some 14% higher than the previous year. But, the bottom line couldn’t keep pace with top-line growth as higher rentals and staff-salaries ate into the company’s profit margin.

The company expects Asian appetite for luxury goods to be negatively affected by uncertainty in the global economy. Nevertheless, Hour Glass is still “cautiously optimistic of its outlook” for the rest of the year.

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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.