The Singapore Market this Week: Jardine Strategic Holdings Limited Joins the Giants

The local stock market, as represented by the Straits Times Index (SGX: ^STI), inched up 0.3% to 3,220.3 points during the week.

Out of the 30 blue-chip stocks, 11 were in the green; 18 were in the red while one – StarHub Ltd (SGX:CC3) – was unchanged.

The biggest winner in the index was DBS Group Holdings Ltd (SGX: D05). Shares of the bank gained 2.7% or 55 cents to S$20.61.

In the losers’ camp, Comfortdelgro Corporation Ltd (SGX: C52) led the group down. The land transport giant plunged 6.8% or 15 cents to end the week at S$1.98. Is there an opportunity to profit from the panic? You can check out the link here to find out more.

This week saw Jardine Strategic Holdings Limited (SGX: J37) debuting in the Straits Times Index, after booting out SIA Engineering Company Ltd (SGX: S59). Jardine Strategic’s shares fell 0.1% to US$44.84. This was despite them rising 2.2% on Monday.

Elsewhere, rig builder, Sembcorp Marine Ltd (SGX: S51) surged 5.7% to S$1.67.

Its subsidiary, Sembcorp Marine Specialised Shipbuilding Pte Ltd, and SeaOne Caribbean LLC from the USA, have signed a letter of intent for the design and construction of at least two large Compressed Gas Liquid (CGL) carriers. These vessels will be used for SeaOne’s Caribbean Fuels Supply Project, which is dubbed the industry game-changer.

SeaOne President and Chief Operating Officer, Dr Bruce Hall, praised Sembcorp Marine, saying:

“SeaOne has been working with Sembcorp Marine management and engineers for a while now. We have found them to be a proactive company that listens to new ideas in the gas and liquids marine transportation business and provides constructive inputs on the design of the large CGL transportation vessels. We are pleased to have Sembcorp Marine and its affiliates as part of the project.”

Moneymax Financial Services Ltd (SGX: 5WJ) will be joining hands with Japanese-listed firm, Aucnet Inc, to jointly develop Singapore’s first online live B2B auction platform. The joint venture company, SG e-Auction Pte Ltd, will operate and manage the e-auction platform which allows business buyers and sellers in the Association of Southeast Asian Nations (ASEAN) region to make electronic bids for luxury branded merchandise, and gold and diamond goods.

The pawnbroker’s shares zoomed up 8.9% to S$0.184 for the week.

The STI ETF (SGX: ES3), an exchange-traded fund which can be taken as a proxy for the Straits Times Index, is now valued at a trailing price-to-earnings ratio of 11.2 and has a dividend yield of 3.1%.

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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 units of STI ETF.