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The Singapore Market This Week

StockMarketBoardAround 24 points was shaved off the Straits Times Index (SGX: ^STI) this week – a drop of 0.7% to 3,177 points. Currently, the STI sports a market capitalisation of S$515 billion and trades at 13.6 times historical earnings.

Some STI constituents such as StarHub (SGX: CC3) and Genting Singapore (SGX: G13) dropped more than the benchmark index. They fell 3.4% and 3.3%, to close at $4.29 and $1.43, respectively.

StarHub released third-quarter results this week. Both operating revenue and net profit decrease 1% to S$579m and S$95m, respectively. An interim dividend of S$0.05 was declared, which is unchanged from last year.

Genting also released third-quarter figures. It said revenues increased 16% to S$777m. Net profit grew 61% to S$223m.

Elsewhere amongst the blue chips, commodities conglomerate. Noble Group Limited gained 5.6% to close at $1.045. The company will be releasing third-quarter numbers next Tuesday.

Meanwhile, some popular mid-cap companies made significant headway. Rig builder Ezion (SGX: 5ME) climbed 9% to $2.08 and comfy-chair maker Osim International Limited rose 4% to $2.24. Coffee maker Super Group, which will release third-quarter figures next Tuesday, put on 3% to $4.36.