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The Singapore Market this Week

For this holiday-shortened week, the Straits Times Index (SGX: ^STI) closed at 3,253 points, a decline of 0.5%.

The STI is made up of 30 components. Out of those, 13 finished in the green, six in the red while one – Olam International Limited (SGX: O32) – ended the week flat.

DBS Group (SGX: D05), whose first quarter earnings rose 9% to a record S$1.03 billion, was the largest gainer in the index. It closed at S$17.17, edging up 2.2%. On the other hand, the stock that lost the most ground was Jardine Cycle & Carriage (SGX: C07), shedding 6.2% for the week to close at S$45.99. It announced that net profit for the first quarter declined 6%.

Out of the STI universe, Raffles Medical Group (SGX: R01) gained 6.1% to S$3.63. It posted a healthy first quarter results where both revenue and net profit surged 8% year-on-year to S$87.6 million and S$14.6 million respectively.

Another stock in the mid-cap sector, SMRT Corporation (SGX: S53) fell 3.2% to S$1.22. It announced a dismal full year results where net profit for the year had plunged 25.7% to a 11-year low of S$61.9 million. It was the first time it had lost money – S$25 million – on its core business of operating trains and buses.

The STI is currently trading at a historical PE ratio of 13.9.