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Singapore’s Straits Times Index gained 0.3% to 2,933.09 as of 9:45 a.m. local time, trimming losses this week to 0.1%. Two stocks rose for each that fell on the 30-member gauge.
Shares on the measure trade at an average 14.2 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to Bloomberg data. The following shares were among the most active in the market.
Shares on the measure trade at an average 14.2 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to Bloomberg data. The following shares were among the most active in the market.
MCL Land (MCL SP) surged 25% to $2.44, set for its biggest advance on record, after its parent Hongkong Land Holdings (HKL SP) offered to buy the rest of the Singapore- based homebuilder for $2.45 a share. Hongkong Land, which holds about 77.4% of MCL Land, rose 0.9% to US$5.37.
Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, jumped 6% to $2.66. The company said fourth-quarter net income doubled to $92.3 million from $46.7 million a year earlier. Credit Suisse Group AGraised its share-price forecast to $4.25 from $3.50 and maintained its “outperform” rating, saying the company’s earnings beats estimates.
TPV Technology (TPV SP), the world’s biggest contract manufacturer of computer monitors, climbed 3.8% to 82.5 cents. The company said first half-profit rose to US$80.3 million ($109 million) from US$54.7 million a year earlier.
Wilmar International (WIL SP), the world’s biggest palm-oil trader, gained 0.3% to $6.20. The company said its unit PGEO Group agreed to buy the remaining 8.6% ofNatural Oleochemicals from National Land Finance Co-operative Society for 42.5 million ringgit ($18.3 million). PGEO last month said it will buy 91.4% of Natural Oleochemicals from Kulim (Malaysia) Bhd.
