The Straits Times Index (SGX: ^STI) has extended a three-day losing streak to four with by slipping 0.1% to 3,209 points today. There?s still the spectre of a shutdown in the US government looming in the horizon but it?s not all doom and gloom around the globe as China yet again posted healthy growth in some economic data only a few days ago.
Coming back to Singapore?s stock market, it?s an almost even-fight between the winners and laggards (16 versus 14) within the index?s 30 constituents.
The STI?s 0.1%…
The Straits Times Index (SGX: ^STI) has extended a three-day losing streak to four with by slipping 0.1% to 3,209 points today. There’s still the spectre of a shutdown in the US government looming in the horizon but it’s not all doom and gloom around the globe as China yet again posted healthy growth in some economic data only a few days ago.
Coming back to Singapore’s stock market, it’s an almost even-fight between the winners and laggards (16 versus 14) within the index’s 30 constituents.
The STI’s 0.1% decline suggests a relatively quiet day within the index, even though there was plenty of action outside it. Let’s take a look at some of the big movers.
HTL International Holdings (SGX: H64) fell 10.4% to S$0.345. It was only yesterday that the sofa and furniture manufacturer jumped by 22.5% to S$0.38 on no notable news. The sharp increase in its share price prompted SGX to question the company for possible reasons for the gains.
Turns out, the company’s not aware of any previously unannounced information that might explain the substantial share price increase. HTL did comment that “several fund managers and private investors” had met up with its management to learn more about the business, but it stressed that “no price-sensitive information other than what has already been publicly disseminated through SGXNet was shared.”
The sharp rise and subsequent drastic fall is perhaps a reminder to investors that it is very possible for shares to move in ways that are completely detached from its underlying intrinsic value from time to time. Punters jumping on the bandwagon without due regard for a share’s business fundamentals would thus run the risks of making avoidable losses.
Sysma Holdings (SGX: 5UO) is down by 5% to S$0.285. The Catalist-listed company released its full-year results yesterday evening and posted an 8% increase in annual profit to S$6.6m. But based on its share price movement, it seems the market’s far from impressed.
Ley Choon (SGX: Q0X) rounds up the trio with a 2.5% gain to S$0.205 despite spending most of the day up by 5%. The market’s likely to have cheered the company’s announcement yesterday evening that it had secured S$30.6m worth of new contracts (four in all), bringing its total order book to S$233.4m as of 24 Sep 2013.
Ley Choon’s an underground utilities infrastructure construction and maintenance service provider and the new contracts are for works like the laying and commission of high pressure gas transmission pipelines as well as road surfacing and reinstatement.
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