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The Singapore Market this Week: Sembcorp Industries Limited Leads the Pack

The local stock market bellwether, the Straits Times Index (SGX: ^STI), put on a good showing for the week. It added 0.8% to end Friday’s trading session at 3,314 points.

Out of the index’s 30 constituents, 22 were in the green, four were in the red while the rest finished the week unchanged.

The biggest winner in the index happened to be Sembcorp Industries Limited (SGX: U96), edging up 4.8% to S$3.29.

The energy, water and marine group will be releasing its financial results for the first half of 2017 on 3 Aug after market closes. For the first quarter ended 31 March 2017, the conglomerate posted a net profit gain of 11.3% to S$119.1 million.

Now let’s jump over to the losing side of the STI. Port operator, Hutchison Port Holdings Trust (SGX: NS8U), lost the most ground, paring 4.3% to US$0.45.

On Wednesday, the trust released its earnings for the second quarter of 2017 where performance was dismal. Revenue declined 1.5% year-on-year to HK$2.89 billion while net profit tumbled 21.5% to HK$269.1 million. Consequently, distributions were cut by 32%.

Elsewhere, shares of telecommunications firm, M1 Ltd (SGX: B2F), plummeted 8.1% to S$1.885. The second quarter of 2017 saw the firm’s bottom line nose-dive by 20.8% to S$32.5 million. This led to a 25.7% cut in its interim dividend. To rub salt into the wound, strategic review of M1 fizzed out with no suitors.

The SPDR STI ETF (SGX: ES3), an exchange-traded fund which can be taken as a proxy for the Straits Times Index, is now valued at 13.2 times trailing earnings and has a dividend yield of 2.8%.

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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 Sembcorp Industries Limited.