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The Singapore Market this Week

The Straits Times Index (SGX: ^STI) rose 1.7% for the holiday-shortened week, closing at 3,254 points. It gained around 56 points from the previous week’s close at 3,198 points.

Out of the index’s 30 component stocks, 22 finished in positive territory, three were flat, while five finished in the doghouse.

The largest gainer of the index during the week was CapitaMalls Asia Limited (SGX: JS8), which was also this week’s Singapore “Flyer”. It was announced during the week that CapitaLand (SGX: C31) wants to privatise CapitaMalls Asia at S$2.22 per share. The second largest gainer of the STI was none other than Capitaland itself. It closed at S$3.18, surging 9% for the week. Coincidentally, that was the highest price CapitaLand has reached in this year. On the other end of the spectrum, Singapore Press Holdings Limited (SGX: T39) lost the most ground after slipping 2% on no material news. It finished off the week at S$4.13.

In the mid-cap universe, one of the largest gainers was Ezion Holdings Limited (SGX: 5ME). It ballooned around 9% to close at S$2.27. The firm made public this week that Asia Fountain Investment Company Limited will subscribe for 100 million new shares of Ezion Holdings for approximately US$155 million. Separately, the oil & gas outfit announced that it had secured around US$80 million worth of contracts over a three year period to provide service rigs to a Middle Eastern state-linked company and a South Asian-based national oil company.

The STI is currently trading at a historical PE ratio of 14.2.

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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.