3 Things You Need to Know About the Singapore Stock Market Today

Welcome to mid-week, Fools! Here are three things about the local stock market that you might be interested in today.

1. The Straits Times Index (SGX: ^STI), ended the day at 3,236.15 points, up 24.11 points, or 0.8%.

DBS Group Holdings Ltd (SGX: D05) was the best performer of the index, gaining 1.8% to S$20.89.

Its banking peers, United Overseas Bank Ltd (SGX: U11) and Oversea-Chinese Banking Corp Limited (SGX: O39), also saw their shares finish Wednesday on a positive territory. The former increased 1.4% to S$23.84 while the latter went up some 1% to S$11.28.

Speaking of banks, The Business Times reported today that cryptocurrency firms in Singapore are seeing their bank accounts being shuttered by the local banks. You can read more about it here.

Meanwhile, the biggest loser in the index was CapitaLand Commercial Trust (SGX: C61U). The real estate investment trust slid 2.9% to S$1.665.

It recently made news by announcing its decision to acquire Asia Square 2 located at Marina Bay and that a rights issue would be carried out to fund part of the deal.

2. Stock market operator and regulator, Singapore Exchange Limited (SGX: S68), was named Derivatives Exchange of the Year at Asia Risk Awards 2017 held last night in Singapore. This is the fourth year that the exchange has been awarded the title.

Michael Syn, Head of Derivatives at SGX said:

“We are very proud to have been given this award again, and that our delivery of service to clients through our multi-asset approach to risk management solutions has been recognised. This has been particularly important at a time when idiosyncratic risks are on the rise, most notably in the increasingly Asia-centric steel-related market. Our unique margin offset offering will continue to support a growth in composite investing in Asia, which we expect to see over time.”

Shares of SGX rose 1.9% to S$7.45.

3. Mandarin Oriental International Limited (SGX: M04) saw its shares plunge 28% to end the day at US$2.01.

This morning, the hotel operator made public that none of the proposals recently received for the sale of The Excelsior in Hong Kong had fully met its expectations or transaction requirements. You can learn more about the developments here.

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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 Ltd and Singapore Exchange Limited. Motley Fool Singapore contributor Sudhan P owns units of CapitaLand Commercial Trust and shares of Singapore Exchange Limited.