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Singapore Market’s Big Movers Of The Day

StockMarketBoardLast night, the American stock market showed signs of nervousness over the US government’s continued shutdown as the S&P 500 Index and Dow Jones Industrial Average slid by 1.2% and 1.1% respectively.

There wasn’t any sign of panic over here in Singapore however, as investors shrugged their shoulders over the American political deadlock.

The Straits Times Index (SGX: ^STI) gained 0.3% to 3,155 points today with 14 winners and 9 losers. The 0.3% uptick suggests that the movement within the index had been low-key with most of the action taking place outside.

Mirach Energy (SGX: C68) jumped 3.1% to S$0.33. The energy exploration and production company recently gave an update of its oil field operations at Kampung Minyak in South Sumatra. Daily production stood at 126 barrels of oil per day as of 30 Sep 2013, up “from less than a hundred barrels per day in August 2013.” The volume increase followed the completion of well KM-611, which was spudded on 5 Sep 2013. The company already has four wells that are approved for drilling at the Kampung Minyak oil field, and “plans to drill a total of nine wells [there] this year.”

Action Asia Limited (SGX: A59) gained 7.1% to S$0.15. The manufacturer of mobile audio and video electronic products had a wild day in the market. The shares were down by as much as 10.7% in late afternoon before rebounding sharply. While the intra-day gains would have saved some investors a little short-term heartache, its financial results appear to suggest otherwise. For the first six months of the year, it made a loss of S$3.4m, compared to a profit of S$780,000 last time.

Chaswood Resources (SGX: 5TW) slid 12.5% to S$0.14. The company operates food & beverage outlets in Malaysia and Singapore with more than 11 brands under its belt. Its shares have fallen by 44% since last Thursday, possibly in sympathy with Asiasons Capital’s (SGX: 5ET) 94% drop in the same period – the former owns 42.6% of the latter as of 31 Dec 2012.

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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.