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.
The historical PE ratio of the STI is at 13.4.
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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.