Singapore’s Straits Times Index fell 0.2% to 3,153.30 at the close, declining 1.1% for the week. Almost twice as many companies dropped as those that rose on 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.
Export-oriented stocks: SembCorp Marine (SMM SP) and Wilmar International (WIL SP) led declines among companies whose revenue are mainly denominated in U.S. dollars. The Singapore currency rose as much as 0.7% to a record $1.2432 today, the highest based on data going back to 1981, following Singapore’s third monetary policy tightening in a year.
SembCorp Marine, the world’s second-biggest builder of oil platforms, dropped 1.2% to $5.78, while its parent SembCorp Industries (SCI SP) lost 1.5% to $5.32, the two worst performers on the benchmark index today. Wilmar, the world’s largest palm-oil trader, slid 0.6% to $5.24.
Ezra Holdings (EZRA SP), the provider of logistics services to the oil and gas industry, slid 1.1% to $1.75. The company said second-quarter net income declined 23% to US$8 million ($9.97 million) from a year ago.
No comments:
Post a Comment