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Weekly Singapore Stock Market Round Up: STI softens despite HK Land’s surge
By The Smart Investor  •  November 4, 2024
The Straits Times Index (SGX: ^STI) concluded the week on a slightly bearish note, closing at 3,555 points. Despite this, the market witnessed some notable individual performances. Hongkong Land (SGX: H78) was a standout performer, surging over 13% to close at $4.48. The company announced a strategic shift towards fund management and a focus on ultra-premium commercial properties in key Asian cities. By 2035, Hongkong Land aims to recycle up to US$10 billion in capital, double its pre-tax profit, and double its dividend per share. Additionally, it intends to grow its assets under management from US$40 billion to US$100 billion. Agri-business giant Olam Group (SGX: VC2) saw a 14% jump in its share price to S$1.22 after confirming discussions to sell its remaining stake in Olam Agri to a Saudi state-owned investment firm. Thai Beverage (SGX: Y92) experienced a 5.7% decline, closing at S$0.50. While the company reported a 2.5% increase in revenue for the third quarter, net profit fell by over...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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