Golden Agri-Resources Ltd Leads the Singapore Market Higher 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.

For this week, the local stock market, represented by the Straits Times Index (SGX: ^STI), gained 1.6% to close at 3,274 points.

The STI, which consists of 30 shares, saw 24 of them finish the week in positive territory. Palm oil producer Golden Agri-Resources Ltd (SGX: E5H) put on the best showing as it gained 7.2% to S$0.52.

On the other end of the spectrum is another commodity firm, Noble Group Limited (SGX: N21). It lost 5.9% to end the week at S$1.19. Noble was one of the six companies that ended the week in the red.

In the mid-cap sector, luxury wellness group, OSIM International Ltd. (SGX: O23), slumped 18.1% to S$1.86. The market did not take too well to the news that the company’s third quarter profit had dropped by 28% after enjoying more than 20 consecutive quarters of record profit. The day after the results were released, OSIM’s shares fell 14% to S$1.935, marking its biggest decline since February 2009. In August this year, the company announced that it will be issuing convertible bonds and that too sent its shares tumbling down at that point in time.

Postal service company, Singapore Post Limited (SGX: S08), gained 1.3% to S$1.97. Yesterday, it announced that it had completed acquiring The Store House Limited and 75% of The Store House Operating Company Limited. The two firms are now indirect subsidiaries of Singapore Post. Separately, Singapore Post said that its second quarter results will be made public on 6 November 2014.

The STI is currently going at 13.4 times its historical earnings.

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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.