Singapore Market’s Big Movers of the Day


Last night, news emerged that the US Federal Reserve expects to taper its US$85b per month asset-purchasing programme within a few months.

And, it seems that certain markets around the world are throwing their hands up in despair at the news that lesser amounts of cheap money might be on its way; at least, that’s the main narrative picture that most would paint.

Without going so far as to point to causation, here’s what happened to some international markets at the time of writing. The FTSE 100 in the UK is down by 0.2%; Hong Kong’s Hang Seng Index has dropped 0.5%; Japan’s Nikkei 225 is up 1.9%; and finally the S&P 500 in the USA dropped 0.4% last night.

Back home in Singapore, the Straits Times Index (SGX: ^STI), at 3,172 points, is 0.4% lower than yesterday’s close.

Most of the blue chips – 23 to be exact – ended the day in the red while only two had modest gains. But despite the seemingly down day for most of the index’s 30 constituents, only Hutchison Port Holdings Trust (SGX: NS8U) had a relatively large 4.2% decline to US$0.68 while the rest of the shares had rather quaint movements.

Let’s check out some shares that have moved big today.

AsiaPhos (SGX: 5WV) is down 4.1% to S$0.163. The phosphate-rock miner, which only got listed on the Catalist stock exchange early last month, released its first set of quarterly results last week as a public company.

Revenue for the nine months ended 30 Sep 2013 came in 46% higher at S$5.76m compared to a year ago. Profits on the other hand, slumped from S$2.18m to a loss of S$2.49m.

AsiaPhos got listed with a triple-digit price-earnings ratio so it can be said that the market’s expecting big things from it. Investors have to watch to see if it can deliver.

Electronics component distributor Willas-Array Electronics (Holdings) (SGX: W12) jumped 10.3% to S$0.16. Its half-year interim results briefing for the six months ended 30 Sep 2013 was released on Tuesday evening.

For the period, sales slipped by 2.3% to HK$1.63b while profits managed to gain 5.2% to HK$23.6m. The Industrial and Automotive segments for the company were standout performers as sales from them were up 9% and 5.6% year-on-year respectively.

Unfortunately, the Home Appliances segment (which is the other area of focus for the company besides the Industrial and Automotive segments) saw turnover dip by 10% as China’s subsidy programme for the purchase of energy-efficient home appliances ended on 29 May 2013.

More than 96% of WIllas-Array’s sales came from China in 2012.

Construction company Soilbuild Construction Group (SGX: S7P) is up 3.6% to S$0.285. The company recently hired a new chief executive officer in Tse Tze Kwong.

Soilbuild’s board believes that Tse has the “requisite experience and capability to assume the responsibility of the CEO of the company.”

As part of his duties, Tse would be “responsible for the overall planning and execution of construction projects of the [company], leading the projects tendering and value engineering activities of the [company], and to spearhead [Soilbuild Construction’s] expansion into new construction sectors that include civil engineering.”

In other news, Soilbuild managed to secure a S$13m contract to build parts of different factories at Seletar Aerospace Hub. It’s the company’s first foray into aerospace-related projects and Ho Toon Bah, an executive director of the company, commented that it “opens up interesting possibilities for us to diversify our revenue streams.”

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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.