Three Shares That Lost To The Market Today

StockMarketBoardThe political deadlock in America continues as the US government remains in shutdown. To add fuel to fire, there is also a need for the country to raise its debt-ceiling by 17 October in order to prevent a default on its debts.

China has also wade in by stressing that the USA has a “responsibility” to resolve its debt-ceiling issues.

Such uncertainty might usually cause panics and sell-offs in the financial markets, but the stock market here in Singapore has remained rather calm throughout the political spat. In fact, the benchmark Straits Times Index (SGX: ^STI) even gained 0.3% to 3,147 today.

There were 17 shares in the green compared to 11 losers among the STI’s 30 constituents.

Thai Beverage (SGX: Y92) remained flat at S$0.53. The aptly-named Thailand-based beverage manufacturer and brewer has been one of Singapore’s best-performing blue-chips over the first nine months of the year.

Even though it has slipped a little since the end of September, it is still no slouch, having gained almost a third since the start of the year. That’s impressive, especially when compared to the STI’s 1% decline over the same period.

AsiaPhos Limited (SGX: 5WV) started its first trading-day as a public company on the Catalist stock exchange yesterday. It ended Monday’s session with a 58% gain to S$0.395 from its flotation price of S$0.25 a share.

Unfortunately, the phosphate miner, which also has a phosphate-based chemical production plant in the works, was unable to maintain the momentum as its shares suffered a 15.2% decline to S$0.335 today.

LionGold Corp (SGX: A78) fell 24% to S$0.19. It has been a wild day for the gold miner, which was actually sitting on a 44% gain at S$0.36 at its intra-day peak.

The company was part of a trio that included Asiasons Capital and Blumont Group that were suspended by the Singapore Stock Exchange last Friday after dramatic price collapses of more than 40%. The suspensions were lifted over the weekend for all three shares but certain trading restrictions were put in place.

LionGold subsequently requested for a trading halt on Monday morning that was lifted at 2:45pm on the same day after which its share price tanked 71.5% to close at S$0.25.

The sharp rebound that occurred in the company’s share price earlier today before the slow-but-deep descent happened, once again highlights how dangerous it can be to engage in short-term speculation. That’s especially so for punters who had hoped to make a quick buck at LionGold’s intra-day peak of S$0.36, only to watch the share make a U-turn and continued falling.

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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.