Singapore’s Straits Times Index dropped 0.6% to 3,261.35 at the close, trimming this week’s advance to 2.2%. Almost three stocks declined for each that rose in the benchmark equity index of 30 companies.
Shares on the measure trade at an average 14.9 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Shares on the measure trade at an average 14.9 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, fell 1.3% in New York yesterday.
Noble Group (NOBL SP), a Hong Kong-based commodities supplier, lost 0.9% to $2.29. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, decreased 2.7% to $3.20.
Palm-oil producers: Crude palm-oil futures for March delivery dropped as much as 2.7% in Kuala Lumpur today.
First Resources (FR SP), an Indonesian palm plantation company, declined 3.3% to $1.49. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, slipped 1.8% to $2.80. Global Palm Resources Holdings (GPR SP) slid 2.5% to 39.5 cents.
GMG Global (GGL SP), a Singapore-based owner of rubber plantations in West Africa, increased 1.7% to 30 cents. The company said shipments from its facilities in the Ivory Coast have resumed after delays last month caused by the nation’s political crisis.
Kim Eng Holdings (KEH SP), the Singaporean brokerage, which received a takeover offer from Malayan Banking (MAY MK), surged 13% to a record $3.04 after it resumed trading today. Maybank, as Malaysia’s biggest lender by assets, will pay $3.10 for each Kim Eng share in a deal valued at $1.79 billion.
Mirach Energy (MENR SP), the explorer of oil and natural gas, advanced 11% to 10 cents. The company said it signed an agreement with Shanghai Petroleum and Natural Gas Co. to operate and seek new fields. Shanghai Petroleum is partly owned by China Petroleum and Chemical Corp. or Sinopec and CNOOC.
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