Singapore Stock Market Review: The Jardines Lead the Market Higher
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Singapore Stock Market Review: The Jardines Lead the Market Higher

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Singapore Stock Market Update (Week of 23 October 2020) 

Singapore’s stock market benchmark, as represented by the Straits Times Index (STI), closed at 2,537.39 points on 23 October. It ended the week up just 0.2% from 2,533.02 last Friday.

Of the 30 STI components, 12 finished in the positive territory, 16 were in the negative region, while two were unchanged for the week.

The biggest winners of the index were the Jardines:

On the other hand, the biggest losers were:

Here’s a chart showing the weekly STI movement:

STI weekly movement (23 Oct 2020)
Source: SGX

Jardine Matheson’s Proposed Share Buyback Programme

Jardine Matheson announced on 23 October that it plans to invest up to US$500 million in a share buyback programme that will extend till 30 June 2021. 

The conglomerate said that the share repurchase programme aims to reduce the company’s capital since the shares bought back will be cancelled. 

Jardine Matheson added that the buyback is in line with its capital allocation policy. 

Jardine Matheson owns an 85% interest in Jardine Strategic, a listed group with interests in other listed companies, including Jardine Cycle & Carriage. 

Valuation Data of the Straits Times Index

The SPDR STI ETF (SGX: ES3), an exchange-traded fund (ETF) that can be taken as a proxy for the index, ended the week with the following valuations:

SeedlyReads Investment Content for the Week 

In case you missed out, here are some investment articles published this week:

Have Burning Questions Surrounding The Stock Market?

Why not check out the SeedlyCommunity and participate in the lively discussion regarding stocks!

Disclaimer: The information provided by Seedly serves as an educational piece and is not intended to be personalised investment advice. ​Readers should always do their own due diligence and consider their financial goals before investing in any stock. The writer may have a vested interest in the companies mentioned.

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About Sudhan P
It isn't fair competition when only one company in the world makes Monopoly. But I love investing in monopolies. Before joining the Seedly hood, I had the chance to co-author a Singapore-themed investment book – "Invest Lah! The Average Joe's Guide To Investing" – and work at The Motley Fool Singapore as an analyst.
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