MENU

The Singapore Market this Week

stock

The Straits Times Index (SGX: ^STI) closed at 3131.5 points on Friday, down 0.6% since 27th December’s close. This week saw a shortened trading week due to the New Year public holiday. On 3rd January, Friday, itself, the index fell 1.4% or 43.2 points.

For the week, out of the 30 constituent stocks in the STI, 22 were in the red while the rest were in the black. Let’s take a look at some of the companies.

The share price of commodity player, Olam (SGX: O32), dipped close to 3% to finish off the week at S$1.485. It was the worst performer in the STI for the week.

On 2nd January, Olam announced that it had divested its entire 50% stake in Lansing Olam Canada for US$5.4 million. Lansing Olam Canada is a jointly controlled entity of Olam and joint venture partner, Lansing Trade Group LLC, held the other 50%.

City Developments (SGX: C09) and ST Engineering (SGX: S63) were laggards for the week as well. They fell 2.6% and 2.3%, closing at S$9.35 and S$3.85 respectively. City Developments continued its poor share price performance into the new year. Last year, the stock fell 25.4% and it was the worst performer in the STI.

On the contrary, Jardine Matheson (SGX: J36) started off the new year with a bang. Its share price went up by 2.3%, closing at US$53.13. It was the best performer for the week.

Hongkong Land (SGX: H78) and Hutchison Port Holdings Trust (SGX: NS8U) finished off the week on a positive note as well. They closed at US$5.90 and US$0.675, rising 1.7% and 1.5% respectively.

The historical PE ratio of the STI is at 13.4.

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.