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

Hello, 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 Thursday at 3,356.25, up 12.37 points or 0.37%.

The biggest winner in the index was Genting Singapore PLC (SGX: G13), the company behind Resorts World Sentosa. The firm’s shares advanced 4.2% to S$1.25.

Meanwhile, Hongkong Land Holdings Limited (SGX: H78) came in as the index’s worst performer. The property developer’s shares slumped 1.5% to US$7.36.

2. Keppel Land China, which is part of Keppel Corporation Limited (SGX: BN4), will be selling its full stake in Keppel China Marina Holdings Pte Ltd (KCMH) to Delight Prime Limited for around 2.9 billion yuan (S$597.4 million).

KCMH indirectly owns an 80% effective stake in Sunsea Yacht Club (Zhongshan) Co Ltd, which owns and is developing Keppel Cove, a residential cum marina development in Zhongshan City, China.

When the deal is completed by the end of the year, Keppel Land China will gain about S$290 million. The divestment is in line with “Keppel Land’s strategy to recycle assets to seek higher returns and rebalance its portfolio to focus on selected high-growth cities in China”.

Keppel Corporation ended the day at S$7.40, down 0.7%.

3. The following companies released their quarterly financial results so do check out their coverage below:

Earnings brief: Singapore Exchange’s first quarter diluted earnings per share soared 10.4% year-on-year to 8.5 cents, Mapletree Commercial Trust’s second quarter distribution per unit (DPU) grew 9.3% to 2.24 cents, and AIMS AMP Capital Industrial REIT’s second quarter DPU fell 7.3% to 2.55 cents.

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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 Singapore Exchange Limited. Motley Fool Singapore contributor Sudhan P owns shares of Singapore Exchange Limited and units of AIMS AMP Capital Industrial REIT.