The Singapore Market This Week: Genting Singapore PLC Leads The Charge

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 Straits Times Index  (SGX: ^STI) gained 30 points, or 0.9%, to close at 3,345 points.

Of the 30 index components, 16 made some gains, 12 clocked losses, and two – namely Singapore Exchange Limited (SGX: S68) and CapitaMall Trust (SGX: C38U) – ended the week unchanged.

The biggest weekly winner in the STI was Genting Singapore PLC (SGX: G13); the casino operator surged 7.7% to S$1.125. Last week, Genting Singapore released its third-quarter results and saw its quarterly net profit drop by 50%. The firm is now trading at 24 times its historical earnings.

Meanwhile, the blue chip that slumped the most happened to be Thai Beverage Public Company Limited (SGX: Y92). The beer brewer was also featured as “Singapore’s Big Loser for the Week”. Its shares last changed hands at S$0.705, a drop of some 7% from a week ago.

Outside the index, CitySpring Infrastructure Trust (SGX: A7RU) and Keppel Infrastructure Trust (SGX: LH4U) gained 4.9% and 4.3% to close at S$0.54 and S$1.09 respectively. On Tuesday, the two trusts revealed that they will be merging to form an infrastructure-focused business trust with total assets of more than S$4 billion. It will be the largest trust of its kind here in Singapore.

Super Group Ltd (SGX: S10), the maker of the Super Coffee brand of instant coffee and other types of instant beverages, gained 8.5% during the week to close Friday at S$1.155. Shares of the food and beverage outfit had been declining for some time due to dismal quarterly results. Because of that, the huge share price jump of around 10% on Friday alone made some investors wonder what the reason behind the rally was.

The SPDR STI ETF  (SGX: ES3), a proxy for the Straits Times Index, is currently trading at 13.6 times its historical earnings, with a price-to-book ratio of 1.3.

Click here now for your FREE subscription to Take Stock Singapore, The Motley Fool’s free investing newsletter. Written by David KuoTake Stock Singapore tells you exactly what’s happening in today’s markets, and shows how you can GROW your wealth in the years ahead.

The Motley Fool’s purpose is to help the world invest, better. Like us on Facebook  to keep up-to-date with our latest news and articles.

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 owns shares in Super Group.