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

Welcome to a brand-new week, everyone. Here are three things about the local stock market that you might be interested in today.

1. It was a sea of red today as the Straits Times Index (SGX: ^STI) ended Monday at 3,482.9 points, down 46.9 points or 1.3%. This follows Friday’s steep declines in the major US stock indices.

Among the 30 index constituents, 27 were in the red, with the biggest loser being Yangzijiang Shipbuilding Holdings Ltd (SGX: BS6). The shipbuilder’s shares fell 3.2% to S$1.52.

Jardine Strategic Holdings Limited (SGX: J37) was the only index component that managed to eke out a gain, adding 0.03% to US$40.00.

The remaining two blue chips, CapitaLand Commercial Trust (SGX: C61U) and Comfortdelgro Corporation Ltd (SGX: C52), were unchanged for the day.

2. SIA Engineering Company Ltd (SGX: S59), which was once part of the Straits Times Index, reported its financial results for the third-quarter ended 31 December 2017 on Friday evening. For the quarter, revenue slipped 0.5% year-on-year to S$271 million, but net profit grew 4.2% to S$54.8 million. You can learn more about the earnings here.

Shares of the engineering firm ended the day flat at S$3.33.

3. Fashion and lifestyle group, F J Benjamin Holdings Ltd (SGX: F10), turned green for the second quarter ended 31 December 2017. For the latest quarter, net profit came in at S$961,000 as compared to a loss of S$7.3 million exactly a year ago.

Group revenue, however, tumbled 19% year-on-year to S$50.5 million due to the “absence of several loss-making brands and businesses which were terminated as part of a restructuring exercise that is now completed”. Cost controls and closure of non-performing stores resulted in operating expenses coming down 20% to S$22.3 million.

Nash Benjamin, the chief executive of F J Benjamin, said:

“We are pleased to report a return to profitability after a painful restructuring exercise which is now completed. With consumer sentiment improving in Southeast Asia, management is working hard to grow our business organically whilst exploring suitable opportunities in the consumer and lifestyle segments.”

For the day, F J Benjamin’s shares lost 1.3% to S$0.077.

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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 in CapitaLand Commercial Trust.