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The Stock Market: What You Need To Know About Last Week’s Events

While the saying goes that the stock market looks forward and not backwards, it’s always nice to have a recap of what has transpired. So, here goes.

Last week, the Straits Times Index  (SGX: ^STI) had enjoyed a small gain of 0.66% to close at 3,343 points. Of the 30 index components, 13 ended the week with positive returns too, with Singapore Airlines Ltd (SGX: C6L) leading the pack. The flag carrier of our nation saw its shares fly up 5.7% to S$11.19.

Meanwhile, 15 of the index stocks were in the red. Jardine Cycle & Carriage Ltd (SGX: C07) lost the most as it declined 6.9% to US$31.68. The rest of the blue chips ended the week flat.

Singapore Technologies Engineering Ltd (SGX: S63), which is also a part of the Straits Times Index and an integrated engineering group with businesses in many sectors, announced this week that its aerospace arm ST Aerospace had clinched a six-year engine maintenance deal worth around US$350 million from India’s second largest airline, Jet Airways, and its subsidiary, JetLite.

The contract extends an existing ten-year engine maintenance agreement that was inked in 2010. Shares of ST Engineering had decreased 1.8% to end the week at S$3.29.

Moving from India to another emerging market in Myanmar, Oversea-Chinese Banking Corp Limited (SGX: O39) and United Overseas Bank Ltd (SGX: U11) announced during the week that they had officially opened branches in Yangon, the capital city of Myanmar.

Both banks are amongst the first few foreign banks to set up operations in the fast-growing Southeast Asian country. Shares of both OCBC and UOB also saw gains for the week; the former inched up by 0.10% to S$10.23 while the latter added 1.3% to S$23.40.

The SPDR STI ETF (SGX: ES3), a proxy for the Straits Times Index, traded at 13.5 times its historical earnings last Friday and had a dividend yield of 2.7%.

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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.