Hi, everyone. 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 3,405.7, rising close to 2% or 66 points. Of the 30 index components, 26 were in the green, with Genting Singapore PLC (SGX: G13) leading the pack. The casino operator saw its shares rise 4.9% to S$1.08.
On the other hand, the biggest loser of the index was Hongkong Land Holdings Limited (SGX: H78); its shares slumped 0.9% to US$6.89. In all, three blue-chip stocks ended the day in the red while Golden Agri-Resources Ltd (SGX: E5H) finished flat.
2. Elsewhere, AEM Holdings Ltd (SGX: AWX) saw its shares surge some 10% to S$5.86. During the market’s midday break today, the company announced that as at 1 April 2018, it had received sales orders worth S$192 million for delivery in 2018. This marks a S$77 million improvement as compared to its previous update on 1 February 2018.
AEM added that the profit guidance for 2018 remains unchanged from the guidance provided earlier of at least S$255 million in sales and S$42 million in operating profit before tax.
The company also announced changes to its board. James Toh, the largest single shareholder, will be appointed as non-executive and non-independent director while Keith Toh, who is unrelated to James, will be stepping down.
3. Home-grown property developer, Oxley Holdings Ltd (SGX: 5UX), repurchased 1 million shares at a price range of between S$0.475 and S$0.48 today. It spent slightly above S$477,300 for the exercise. Oxley’s shares ended Thursday at S$0.475, up 5.6%.
[Editor’s note: After this article was published, Oxley announced additional share repurchases that has not been included in the above.]
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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 AEM Holdings Ltd. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.