Three Shares That Lost To the Market Today

The Straits Times Index (SGX: ^STI) has gained 0.8% to 3,284 points with the majority of the index’s 30 constituents (some 20 of them) finishing in the black. Meanwhile, only three of the blue chips had made losses.

Let’s take a look at some shares outside the index that had lost to the market.

Singapore Land’s (SGX: S30) shares were down 2.4% to S$9.37. The property developer, which is in the process of being privatised, would be releasing its first quarter results tomorrow after the market closes. In its latest financials for the whole of 2013, annual revenue had dropped by 22% to S$454 million while profits were down by 17% to S$339 million. Much of the decline was due to the company having made lower trading property sales.

Investors hoping for a rebound when Singapore Land hands in its report card tomorrow might have reasons to be cautious as well; in its last earnings release, the company had cited a number of challenges to its various property markets.

Semiconductor assembly and test services provider STATS ChipPAC (SGX: S24) has dropped by 2.8% to S$0.35. The company’s results for the first quarter of 2014 were just released on Tuesday and it wasn’t pretty. Quarterly revenue fell some 10% year-on-year to US$365 million while profits of US$3.5 million a year ago had turned into losses of US$15.8 million.

STATS ChipPAC had seen lower demand from its wireless communications market. At the same time, lower gross profit margins had trickled down to its bottom line, resulting in the losses.

The mini conglomerate Aztech Group (SGX: 560) has slipped a little as its shares inched down by 0.6% to S$0.158. The company has interests in electronic products manufacturing; LED lighting design and manufacturing; materials supply; marine logistics; and food supply. Yesterday, it had released its first quarter earnings which seemed to be well-liked by the market as its shares went up by 1.3%. However, it has given back some of those gains today.

In any case, results for Aztech Group were a huge improvement with revenue almost doubling and profits more than quadrupling.

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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.