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The Singapore Stock Market Today: Synagie Corporation Ltd Makes Its Trading Debut

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

1. The Straits Times Index (SGX: ^STI) ended the day down 0.4%, or 13.3 points, to 3,326.7. Of the 30 index components, 11 were in the red; 14 were in the green while the remaining five finished unchanged.

The biggest loser among the blue-chip stocks was DBS Group Holdings Ltd (SGX: D05). The bank’s shares fell 2.9% to S$26.00 each.

Last week, DBS announced its second quarter of 2018 results. For the quarter, total income improved 10% year-on-year to S$3.2 billion while net profit (without one-off items) climbed 20% to S$1.4 billion. However, the bank’s chief executive warned that he expects the Singapore property loan growth to be affected by the latest cooling measures. To know more about the earnings and the bank’s outlook, you can head here.

The blue-chip that gained the most was Yangzijiang Shipbuilding Holdings Ltd (SGX: BS6), soaring some 9% to S$0.99.

Yesterday, the shipbuilder made public its financial results for the 2018 second-quarter. Quarterly revenue more than doubled to RMB 8.0 billion due to construction and delivery of several large-size vessels. In the latest quarter, 20 vessels were delivered as compared to four ships delivered in the same quarter last year. Meanwhile, the bottom-line grew 38% year-on-year to RMB 994.9 million.

2. Before the stock market opened this morning, Singapore Technologies Engineering Ltd (SGX: S63) announced its second quarter of 2018 earnings.

Revenue for the reporting quarter fell 3% to S$1.7 million, but net profit improved 10% to S$117.5 million. The fall in the top-line was due to an absence of a one-time revenue increase for its electronics sector in the second quarter last year from the modification of revenue recognition estimates.

At the end of June 2018, ST Engineering had an order book of S$13.4 billion, of which around S$2.7 billion is expected to be delivered for the rest of 2018. An interim dividend of 5.0 Singapore cents per share was declared, similar to the interim dividends paid out over the last three years.

President and chief executive of ST Engineering, Vincent Chong, commented on the latest results:

“Our Aerospace and Electronics sectors delivered strong 2Q2018 earnings. Our order book remained robust at $13.4b, contributed by new orders including those in the Smart City spaces. On the whole, we are tracking well on our strategy of strengthening our core as well as actively pursuing growth opportunities in defence exports and Smart City projects.”

ST Engineering was the fourth-best performer of the Straits Times Index today. Its shares rose 1.2% to S$3.45 apiece.

3. Synagie Corporation Ltd (SGX: V2Y) made its trading debut today by opening at S$0.265 per share, slightly lower than its initial public offering (IPO) price of S$0.27.

The company is Southeast Asia’s leading e-commerce enabler in the body, beauty and baby (BBB) sector, and is the fastest-growing e-commerce start-up in Singapore.

Synagie shares ended the day at S$0.275 each, up 1.9% from the listing price. To know more about the company’s IPO, you can head here.

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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 a recommendation on DBS Group Holdings Ltd. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.