The Singapore Market this Week: Noble Group Limited Leads The Market Lower

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.

The Singapore market, represented by the Straits Times Index (SGX: ^STI), lost 1.3% this week to end at 3,280 points. On Tuesday, the Straits Times Index plunged around 2%, or 79 points. It marked the steepest daily percentage loss for the index in 1.5 years; around the same time this happened, oil fell below the US$60 mark for the first time as well since mid-2009.

Of the 30 index components, 22 ended up with losses for the week while the rest were in positive territory.

Commodities trader Noble Group Limited (SGX: N21) was the worst of the lot as it slumped 6.6% to S$1.07. On the other hand, marine engineering outfit, Sembcorp Marine Ltd (SGX: S51) had gained some 10% to end the week at S$3.19; interestingly, this happened amid tumbling oil prices.

Elsewhere, in the mid-cap sector, Biosensors International Group Ltd (SGX: B20) went up 6.1% to S$0.52. You can read more about the likely reasons as to why the share had rose here. Meanwhile, OSIM International Ltd. (SGX: O23) came down 8.3% to S$1.99. The wellness group reported its third quarter earnings at the end of October and saw its bottom line fall 28% year-on-year.

The STI is now going at a historical price-to-earnings ratio of 13.3.

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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 doesn’t own shares in any companies mentioned.