The Singapore Market This Week

StockMarketBoardThe Straits Times Index (SGX: ^STI) closed at 3,179 points at the end of a busy trading week. It gained 42 points or 1.3%. According to Bloomberg, the historical PE ratio of STI stands at 13.1 with a market capitalisation of S$518.25 billion.

Sembcorp Industries Limited (SGX: U96) announced this week that its joint venture in Oman, Sembcorp Salalah Power & Water Company, has gone public in the Muscat Securities Market. The flotation, which  was 8.3 times oversubscribed, raised OMR53 million (around S$173 million). That would make it Oman’s largest share offer so far this year. Sembcorp climbed 2.3% to close at $5.31. It is currently trading at a historical PE ratio of 13.

This week saw more bloodbath from the erratic trio of Asiasons Capital Limited (SGX: 5ET), Blumont Group Limited (SGX: A33) and LionGold Corp Limited (SGX: A78). Their stock prices plunged 86%, 80.6% and 82.4% respectively. Singapore Exchange said it is looking into the short-selling of shares in Blumont Group and Asiasons Capital even though it was banned. The three stocks are marked as “designated securities”, which means that short-selling and contra-trading are not permitted.

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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.