Three Shares That Beat the Market Today

The Straits Times Index (SGX: ^STI) continues its steady resurgence after inching up 0.2% to 3,210 points today. After bottoming out in early Feb this year at 2,960 points, the index has since put on 8.4%.

In any case, it was a mixed day for the blue chips as only 14 of the index’s 30 constituents ended the trading session with gains while 13 others made losses.

Turning away from the index, let’s take a look at some shares that managed to beat the market today.

SPH REIT (SGX: SK6U) moved up 1.0% to S$0.995 after announcing better than expected second quarter results yesterday evening. Positive rental reversions and property expenses that came in lower than its forecasts had helped drive the real estate investment trust’s results. All told, its quarterly distributions per unit came in at 1.39 Singapore cents per unit, some 4.5% higher than its forecasts. The REIT has gained 11.1% since its IPO last July at a listing price of S$0.90.

Phosphate rock miner AsiaPhos (SGX: 5WV) closed at S$0.19 for a 20.3% gain. Shares of the company had started rising shortly after the day started and its quick gains prompted the stock exchange operator Singapore Exchange to issue a ‘Please Explain’ around 3pm. About an hour later, when it was at a price of S$0.19, AsiaPhos requested for a trading halt for a pending announcement. As of the time of writing (9 Sep 2014, 5:30pm), there’s been no response to SGX’s query and there’s been no updates as well on the announcement.

Tee Land (SGX: S9B) gained 1.7% to S$0.295. The real estate developer had released its third quarter results yesterday evening and saw some stupendous growth figures. Revenue for the quarter more than doubled from S$7.47 million a year ago to S$15.7 million while profits spiked by 465% to S$3.45 million.

Much of the company’s growth can be attributed to revenue recognition from some of its development projects like The Peak@Cairnhill I, 91 Marshall and Aura 83.

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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.