Jardine Cycle & Carriage Limited Leads the Market Lower This Week

Although we don’t believe in timing the market or panicking over market movements, we do like to keep an eye on changes – just in case they’re material to our investing thesis.

This week, the Straits Times Index (SGX: ^STI) had slumped to 3,253 points, some 1.2% lower than last Friday’s close. This is the lowest level Singapore’s benchmark index has reached since mid-May this year.

The majority of the STI constituents – 24 of them to be exact – ended the week in the red, with Jardine Cycle & Carriage Limited (SGX: C07) falling the most. The automotive group dropped by close to 7% to S$40.36.

Container port operator Hutchison Port Hldg Trust (SGX: NS8U) was flat at US$0.685 while the rest of the STI’s components were in the green. ComfortDelGro Corporation Limited (SGX: C52), the second largest land transport outfit in the world, had enjoyed the best gains among the blue chips as it added around 4% to S$3.54.

Outside the index, Traditional Chinese Medicine outfit Eu Yan Sang International Ltd. (SGX: E02) plunged by 7.1% this week. Safety warnings by US regulators about the company’s product sent the company’s shares down to S$0.79 apiece.

Elsewhere, Singapore Post Limited (SGX: S08) had added some 3% to S$1.86. My Foolish colleague Stanley Lim noted that shares of the postal company had doubled since 2012. The firm is now trading at around 28 times its historical earnings.

As of yesterday’s close at 3,253 points, the STI is carries a price-to-earnings ratio of 13.6 and has a market capitalisation S$533.3 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.