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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.

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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 owns shares in Super Group.