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The Singapore Market this Week

The local stock market bellwether, the Straits Times Index (SGX: ^STI), finished above 3,000 points for the week. It closed at 3,013 points on Friday, a fall of 0.5% over the previous week’s close of 3,027 points. On Monday, the STI fell below the psychological barrier of 3,000 points, the lowest for the past 15 months.

Six out of the 30 component stocks in the STI finished in the green while 20 of them finished in the red. The rest were unchanged. The “flyer” of the index was City Developments (SGX: C09), gaining 5.4% to close at $9.20. The stock that faced the most turbulence was SIA Engineering Company (SGX: S59). On Monday, it released its quarterly results where its net profit fell close to 10%. Consequently, it shed 4.9% for the week, closing at $4.69.

Let’s turn our attention away from the big boys. Transport provider, SMRT Corporation (SGX: S53) closed at $1.06, plunging 7.4%. It finished the week at levels not seen since 2006. Woes at SMRT continued as its third quarter net profit plunged 44% to S$14 million.

Fragrance Group (SGX: F31) handsomely finished the week up 4.7%. It last changed hands at $0.225. It showed a sterling fourth quarter performance where net profit surged 288% To S$134 million.

Our Singapore “Flyer” of the Week, Yongnam Holdings (SGX: Y02), rose 4.4% to close at $0.24 while our Falling Knife of the Week, Dukang Distillers Holdings (SGX: GJ8) did a “drop-it-like-it’s-hot” fall of 23.6%, finishing off the week at $0.21.

The STI currently trades at a historical PE ratio of 12.8 and has a market capitalisation of S$491.3 billion.

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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.