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The Singapore Market this Week

The local stock market bellwether, the Straits Times Index (SGX: ^STI), finished the week at 3,268 points on Friday, a marginal rise of 0.4% over last week’s close of 3,254 points.

17 out of the 30 component stocks in the STI finished in the green, 10 of them finished in the red while the rest were flat. The “flyer” within the index was City Developments (SGX: C09), gaining 5.6% to close at $11. It was announced on 23 April 2014 that Singapore Exchange has issued an “eligibility-to-list letter” to City Developments’ associate company, First Sponsor Capital Limited, which is considering getting itself listed through its principal operating subsidiary, First Sponsor Group Limited. If the proposed initial public offering is to proceed, it is likely that the listing would occur in the third quarter of this year.

The stock that sunk the most amongst the blue chips was Keppel Corporation Limited (SGX: BN4), which shed 4.4% to end the week at $10.51. No material news was released from the company.

Let’s turn our attention away from the big boys. Osim International (SGX: O23) was one of the largest gainers in the mid-cap sector. It surged 5.6%, closing at $2.85. It will release its first quarter results on 6 May 2014. The wellness firm finished off its last financial year on an extremely positive note. Revenue for 2013 increased 8% year-on-year to S$648 million while net profit surged 17% to S$102 million, capping five years of record profit and 20 straight quarters of profit growth.

Our Singapore “Flyer” of the Week, SMRT Corporation (SGX: S53), rose 23.5% to close at $1.26 while our Falling Knife of the Week, STATS ChipPAC (SGX: S24) did a “drop-it-like-it’s-hot” fall of 13.6%, finishing off the week at $0.35.

The STI currently trades at a historical PE ratio of 14.3 and has a market capitalisation of S$541.5 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.