The Singapore Market this Week: Hongkong Land Holdings Limited Leads the Pack

Singapore’s stock market, as represented by the Straits Times Index (SGX: ^STI), grew by 1% during the week to end Friday at 2,857 points.

Of the index’s 30 components, 22 stocks managed to eke out a weekly gain. Property investment, management, and development firm Hongkong Land Holdings Limited (SGX: H78) was the biggest winner with its shares jumping by 4.7%, from S$6.83 last Friday to S$7.15 this Friday.

Moving on, another winner in the index is SATS Ltd (SGX: S58). The gateway services and food solutions provider’s share price climbed 4.3% during the week to S$5.09.

Shares of SATS have done very well over the past year, growing by around 30%. My Foolish colleague Chin Hui Leong had recently taken a close look at the possible reasons behind SATS’s strong gains. You can find out more here.

Another blue chip that saw gains for the week was conglomerate Jardine Matheson Holdings Limited (SGX: J36), which owns the majority of Hongkong Land Holdings’ shares. Jardine Matheson used to be part of the Straits Times Index and rejoined the market benchmark on Monday this week, replacing oil rig builder Sembcorp Marine Ltd (SGX: S51). The conglomerate’s share price had stepped up by 0.6% to US$60.50.

In the losing camp within the Straits Times Index, there’s telecommunications outfit StarHub Ltd (SGX: CC3). Its shares lost 1.5% in value, ending Friday’s trading session at a price of S$3.41 each. StarHub is also the index’s biggest weekly loser.

Local newswire Today reported earlier this week that StarHub is holding trials on WiFi access in shuttle buses that ply routes within the National University of Singapore. Dubbed “connected vehicles pilot,” the Wi-Fi points on the buses connect to other points located around the campus, allowing seamless connectivity. StarHub added that if the one-year trial goes smoothly, it will look into rolling out the service in other parts of Singapore.

The SPDR STI ETF (SGX: ES3), an exchange-traded fund which tracks the fundamentals of the Straits Times Index, is now valued at close to 12 times trailing earnings and has a dividend yield of 3.2%.

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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.