Three Shares that Lost to the Market Today

The slump in Singapore’s shares has continued as the Straits Times Index (SGX: ^STI) shed a further 0.8% today to 2,966 points. The benchmark index is now some 6.3% lower than where it was at the end of 2013.

Coming back to the day’s happenings, the index was awash in red as 25 out of its 30 constituents made losses during the trading session. Only one share, Hongkong Land Holdings (SGX: H78), managed to make some gains as its shares moved up strongly by 4.1% to US$6.10.

While the index did not have particular good showing, there were other shares that did worse. Let’s take a look at some of them.

Aircraft engineering outfit SIA Engineering Company (SGX: S59) fell 2% to S$4.81. The company had just released its third quarter earnings yesterday and judging from its share price decline, the market didn’t really seem to like it.

For the three months ended 31 Dec 2013, SIA Engineering’s top-line inched up 2% year-on-year to S$284m while profits slipped 9.7% to S$60.5m as costs increased across the board.

Frasers Centrepoint Limited (SGX: TQ5) dropped 4.4% to S$1.42. The real estate company was spun-off from Fraser & Neave (SGX: F99) in January this year and would be reporting its first quarter results on 12 Feb 2014.

Frasers Centrepoint had just announced its full year earnings early last month where its profits actually increased 12% to S$722m on the back of improvements in its property development business.

GP Industries (SGX: G20) declined 3.5% to S$0.42. Last week, the company, which is involved with the electronics and battery industries, warned of losses it would sustain for its third quarter ended 31 Dec 2013. The warning was a follow-up to a similar notice it had given to investors back in 6 Dec 2013.

The company has a 49.7% interest in battery maker GP Batteries International (SGX: G08), which announced on 27 Jan 2014 that it had taken an impairment loss of around S$26.3m. Due to GP Industries’ stake in GP Batteries, the former would have to report 49.7% of the S$26.3m loss (approximately S$13m) on its own income statement.

As a result, GP Industries “expects to report a loss” for its upcoming third quarter results, which would be made known on 13 Feb 2014.

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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 writer Chong Ser Jing doesn’t own shares in any companies mentioned.