Post Reply
Share this
Digg
Del.icio.us
StumbleUpon
Netscape
Yahoo
Technorati
Googlize this
Facebook
Export PDF
Print
E-mail
Singapore’s Straits Times Index rose 0.7% to 3,172.61 as of the 9:39 a.m. More than five stocks advanced for each that declined on the 30-member gauge.
Shares on the measure trade at an average 15.6 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 15.6 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.
Bulk shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, gained 0.9% in London yesterday. Cosco Corp. Singapore (COS SP), a China- based shipbuilder that also operates bulk carriers, increased 2.2% to $1.90. Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier, gained 1.5% to $2.06.
Commodity suppliers: The Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, rose 0.5% yesterday in New York, extending its three-day advance to 3.7%.
Noble Group (NOBL SP), a Hong Kong-based commodities supplier, rallied 1.5% to $1.98. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, rose 1.6% to $3.16.
China Aviation Oil Singapore Corp. (CAO SP) climbed 2.6% to $1.60. The supplier of jet fuel to China said the company and BP Plc, its second-largest shareholder, have entered into an agreement for a collaboration, which will take effect on Jan. 1, 2011.
CSC Holdings (CSC SP) jumped 2.9% to 17.5 cents. The construction company has won contracts worth more than $50 million for foundation works in the past three months, it said in a release.
Freight Links Express Holdings (FLE SP) surged 6.3% to 8.5 cents. The provider of freight forwarding and warehousing services plans to raise about $600 million selling shares in an initial public offering for a Shariah-compliant real-estate investment trust, the Business Times reported. Freight links plans to list the REIT, which would hold about $850 million of industrial properties in Singapore, by the end of this year, the newspaper said, citing people it didn’t identify.
Singapore Press Holdings (SPH SP), the biggest newspaper publisher in the city-state, increased 1% to $4.26 after saying its full-year net income rose to $497.9 million from $421.9 million the previous year. Analysts had expected profit of $511.2 million, based on 15 estimates compiled by Bloomberg.
Yanlord Land Group (YLLG SP), a China-based developer, advanced 1.8% to $1.73. The company was rated “buy” in new coverage at Deutsche Bank AG by equity analyst Jason Ching.
Yangzijiang Shipbuilding Holdings (YZJ SP), a China- based shipbuilder, rose 2.1% to $1.91. The company said it set up a new subsidiary in China that will engage in supply of marine equipment and materials. Also, the company was rated “buy” in new coverage at Citigroup Inc. with a share-price estimate of $2.25.
