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3 Shares That Beat the Market Today

The Straits Times Index (SGX: ^STI) started off the week taking a small step backwards. It lost 0.1% to 3,310.8 points, with 15 out of the 30 constituents in the doghouse. However, the three stocks below were among the market beaters within the index.

United Overseas Bank Ltd (SGX: U11) gained 0.46%, or S$0.110, to end Monday at S$24.09. Last week, the bank, which operates in 19 countries, said that it had received an in-principle foreign-owned subsidiary bank (FOSB) licence from the State Bank of Vietnam. The FOSB licence enables the bank to extend its reach beyond Ho Chi Minh City and to offer its products and financial solutions to businesses and consumers located in other cities. UOB is the first bank in Singapore to receive such authority.

Next, shares of UOL Group Limited (SGX: U14) put on 0.76% to S$7.98. The property group will be announcing its financial results for the second quarter ended 30 June 2017 on 4 August 2017, Friday. For the first quarter, revenue went up 6% year-on-year to S$350.7 million. This was largely on the back of “higher progressive recognition of revenue from on-going property development projects, Principal Garden and Botanique at Bartley”. Meanwhile, net profit for the quarter came in at S$80.3 million, a 4% improvement as compared to the figure of S$77.1 million seen in the previous corresponding period.

Last but not the least, Ascendas Real Estate Investment Trust (SGX: A17U), Singapore’s first and largest listed business space and industrial REIT, closed at S$2.70 for the day. It added S$0.02 or 0.75%. The REIT will be releasing its financial results for the first quarter ended 30 June 2017 on Thursday after the market closes. For the financial year ended 31 March 2017 (FY16/17), distribution per unit grew by 2.5% year-on-year to 15.743 Singapore cents, mainly due to contributions from new properties purchased in the second half of FY15/16 and in FY16/17.

The REIT announced earlier this month that it had sold the property, 10 Woodlands Link, to Sengkang Import & Export Pte Ltd, for S$19.28 million. It added that the divestment is “in line with the Manager’s proactive asset management strategy to redeploy capital and optimise returns for Unitholders. The sale price of S$19.28 million is 60.7% higher than the original purchase price of S$12.0 million in 2005”.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice.The Motley Fool Singapore has recommended shares of United Overseas Bank. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.