The Singapore Stock Market Today: Keppel-KBS US REIT Makes Its Debut

Hello, everyone! Here are three things about the local stock market that you might be interested in today.

1. The Straits Times Index (SGX: ^STI), finished Thursday at 3,423.91 points, up 2.66 points or 0.08%.

The biggest winner in the index was Golden Agri-Resources Ltd (SGX: E5H). The palm oil producer’s stock price climbed 3.8% to S$0.405.

Meanwhile, Jardine Matheson Holdings Limited (SGX: J36) was the stock that lost the most ground today. Its shares slumped 3.4% to US$65.69.

Jardine Matheson released an interim management statement for the 2017 third quarter. It said that “good trading performances” in a number of its businesses, notably Astra under Jardine Cycle & Carriage Ltd (SGX: C07), Hongkong Land Holdings Limited (SGX: H78), Jardine Pacific and Jardine Motors, led to better earnings for the period under review.

2. We are into the earnings season right now. Here are some of the latest coverage:

a) VICOM Limited (SGX: V01) – click here

b) Boustead Projects Ltd (SGX: AVM) – click here

c) Best World International Limited (SGX: CGN), Singapore Telecommunications Limited (SGX: Z74) and Valuetronics Holdings Limited (SGX: BN2) – click here

3. Keppel-KBS US REIT (SGX: CMOU), which is jointly sponsored by Keppel Capital, the asset management arm of Keppel Corporation Limited (SGX: BN4), and KBS Pacific Advisors, debuted on our local bourse today.

Keppel-KBS US REIT is a Singapore real estate investment trust (REIT) with an initial portfolio of 11 commercial assets in seven cities across the US.

The REIT opened at US$0.895 today, up from its initial public offering price of US$0.88, before ending the day at US$0.89.

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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 Hongkong Land Holdings Limited. Motley Fool Singapore contributor Sudhan P owns shares of VICOM Limited and Boustead Projects Ltd.