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Three Shares That Lost To The Market Today

StockMarketBoard The Straits Times Index (SGX: ^STI) ended trading at 3,212 points, down a mere 0.1% from Monday. Within the index, losers outnumbered the winners 16 to 11. The market’s relatively flat outcome suggested a quiet day on average, but some shares performed decidedly poorer. Let’s take a look at them.

Keppel Corp (SGX: BN4) slipped 0.7% to S$10.74. Last week, the property and marine engineering company announced that its Baku Shipyard in Azerbaijan has finally opened on 20 Sep 2013. Baku was developed jointly by Keppel, State Oil Company of Azerbaijan Republic and Azerbaijan Investment Company.

Keppel’s in charge of the management and operation of the yard and owns 10% of it. SOCAR owns 65% of Baku while the remaining 25% stake in the yard belongs to AIC. The shipyard has gotten off to a good start as it has already received two contracts worth US$50m in total with several projects “already in discussions.”

Singapore Exchange (SGX: S68) dropped 0.9% to S$7.54. The operator of Singapore’s Mainboard and Catalist stock exchanges had actually shared some good news recently. Last Friday, it announced the signing of a memorandum of understanding (MOU) with the Bank of China in a joint effort to grow China’s financial markets.

SGX and the bank will “explore joint development of Renminbi products and services, promotion of SGX products in China and educational programmes.” In addition, the bank will also be looking at how it can expand its role in SGX’s markets.

It’s probably a good development for SGX’s shareholders as it opens up an avenue of growth for the company, whose revenue of S$715m for the 12 months ended June 2013 was actually 7% lower than what it was five years ago for the 12 months ended June 2008.

Hongkong Land Holdings (SGX: H78) rounds up the losers’ list with a 1.9% decline to US$6.58. It’s been really quiet with the property development and management company lately, as the last notable announcement it made (at the start of August) was for its half-year results, where profit for the six-month period dropped by 4% year-on-year to US$598m.

Despite the slight dip in profits, the company still sees some positivity ahead in some of its key markets in Asia. In particular, “conditions in the Hong Kong leasing market have shown some improvement and positive rental reversions are expected to continue for the remainder of the year.” Shareholders of the company can also look forward to the completion of residential projects in Singapore and China.

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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.