Singapore’s Straits Times Index dropped 0.4% to 3,160.98 as of 9:34 a.m. local time. About two stocks fell for each that rose in the benchmark index of 30 companies.
Shares on the measure trade at an average 14.4 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 14.4 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.
Palm-oil producers: Crude palm-oil futures for June delivery dropped 0.7% in Kuala Lumpur yesterday, extending its two-day decline to 2%.
Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, decreased 1.4% to 71 cents. Wilmar International (WIL SP), the world’s biggest palm-oil trader, lost 1.1% to $5.25.
Sabana Shari’ah Compliant Industrial REIT (SSREIT), the first Shariah-compliant trust to be listed in Singapore, gained 0.5% to 93.5 cents. The company said it appointed Tan Chiew Kian as chief financial officer to replace Eric Michael Peter Pascal, who has resigned.
Singapore Press Holdings (SPH SP), the biggest newspaper publisher in the city-state, slid 1.3% to $3.93. The company said second-quarter net income declined 33.5% to $75.4 million from a year earlier.
STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, slipped 1.8% to $11. The Baltic Dry Index, which measures the cost of shipping commodities, dropped 1.3% in London yesterday, extending its decline for a 12th day.
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