STI down slightly to 2,990.66, up 4.6% w-o-w

Of the 30 constituents, only three were in the red, led by City Developments Limited (CDL), which saw a 7.9% w-o-w drop.

For more stories about where the money flows, click here for our Capital section

The company saw its third director step down from the board on Jan 4 in relation to its investment in China’s Sincere Property Group, prompting its executive chairman Kwek Leng Beng to issue a letter to the media.

Jardine Cycle & Carriage, Yangzijiang Shipbuilding, Dairy Farm International and Singapore Telecommunications (Singtel) were among the top gainers, registering w-o-w increases of 11.6%, 8.8%, 6.9% and 6.9% respectively.

Read all the STI watch articles here.