Singapore’s Straits Times Index gained 0.2% to 3,164.91 as of 9:09 a.m. local time, headed for a 0.7% decline for the week. The same number of stocks rose and fell 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.
CapitaLand (CAPL SP), Southeast Asia’s biggest developer, gained 0.9% to $3.44. The company said it’s buying a 40% stake in Surbana Corp. for $360 million from its biggest shareholder Temasek Holdings (TMSK SP). The acquisition will allow the Singapore developer to tap Surbana’s expertise in large-scale mass-market residential expertise in China. CapitaLand said in its annual report received yesterday that it wants to boost its China business to 45% of total assets.
Bright World Precision Machinery (BWPM SP), the maker of stamping machines, increased 1.7% to 61.5 cents. The company said it won an order for the supply of 10.9 million yuan ($2.1 million) worth of equipment to Jiangyin Zhongnan Heavy Industries Co., a manufacturer of metal pipes.
JES International Holdings (JES SP), the China-based shipbuilder, advanced 1.6% to 32 cents. The company said it has appointed Tan Soh Ling as chief financial officer.
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