The Singapore Stock Market This Week: UOL Group Limited Leads the Pack Higher

The Singapore market benchmark, the Straits Times Index (SGX: ^STI), ended Friday at 3291.3 points, surging 2.2% for the week.

Out of the 30 index components, 23 were in the green; three were in the red while the rest were flat.

Property developer, UOL Group Limited (SGX: U14), was the biggest winner in the index, adding 5.3% to S$8.55. Meanwhile, the most prominent loser was transport giant, Comfortdelgro Corporation Ltd (SGX: C52). It slumped 3.8% during the week to end Friday at S$2.00.

Elsewhere, SIA Engineering Company Ltd’s (SGX: S59) shares plunged 8.6% to S$3.19.

Singapore’s stock market operator queried the aircraft engineering firm for unusual trading activity in its shares during the week. In response, the company said that according to a report from Bloomberg, JPMorgan had offered to sell its entire stake of 38.9 million shares in the firm, which could explain the steep share price decline on Wednesday.

On Friday, SIA Engineering announced that it had entered into a non-binding Memorandum of Understanding with Air India Engineering Services Limited, a wholly-owned subsidiary of Air India Limited. The business collaboration would offer maintenance, repair and overhaul services, engineering training and other ancillary services at various airports in India, among others.

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 a trailing price-to-earnings ratio of 11.3 and has a dividend yield of 3%.

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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 SPDR STI ETF.