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Good Start For Singapore Shares In September

StockMarketBoardThe Straits Times Index (SGX: ^STI) closed at 3,048 points for the week, up 19 points or 0.6%.

Keppel Corporation Limited (SGX: BN4) and Sembcorp Marine Limited (SGX: S51) gained 2.6% and 3.8% respectively. The gains may be due to the 12% surge in the Baltic Dry Index (BDI). The shipping and trade index measures changes in the cost to transport raw materials such as metals, grains and fossil fuels such as coal by sea.

On the other hand, property stocks that include CapitaLand (SGX: C31) and Hongkong Land Holdings Limited (SGX: H78) fell 3.0% and 2.5% respectively. This might have been prompted by an imminent end of monetary stimulus, otherwise known as tapering, by US Federal Reserve.

Yongnam Holdings Limited (SGX: Y02) was a big gainer this week. It shot up almost 23%. The company is involved in the design, fabrication, supply and erection of steel structural frames for infrastructure-related projects. Previously it was also involved in structural steelwork for the fabrication of steel components for jack-up rigs in the offshore sector previously.

Last month, Yongnam reported that it was unsuccessful in its Myanmar Airport tender bids. It formed a consortium together with Changi Airport Planners and Engineers and JGC Corporation in a bid to design, construct, operate and maintain Yangon International Airport and Hanthawaddy International Airport.

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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 Sudhan P doesn’t own shares in any companies mentioned.