MENU

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.

Click here now  for your   FREE   subscription to   Take Stock  Singapore, The Motley Fool’s free investing newsletter. Written by   David Kuo ,   Take Stock Singapore   tells you exactly what’s happening in today’s markets, and shows how you can GROW your wealth in the years ahead.  

Like us on Facebook   to keep up-to-date with our latest news and articles. The Motley Fool’s purpose is to help the world invest, better.

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.