Singapore’s Straits Times Index rose 0.3% to 3,162.96 as of 9:34 a.m. local time. Five stocks advanced for every two that 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.
DBS Group Holdings (DBS SP), the biggest Southeast Asian biggest bank’s China unit, gained 0.4% to $14.72. The company earned 250 million yuan ($47.7 million) of profit last year, Melvin Teo, chief executive officer of DBS China, said at a news conference in Shanghai on April 15. The lender is set to have 50 Chinese outlets by 2013.
Guocoland (GUOL SP), a real-estate company that counts China as its biggest market, sank 1.7% to $2.38. the company said third-quarter net income fell 79% to $2 million from a year earlier.
Longcheer Holdings (LHL SP), a China-based mobile phone designer, tumbled 11% to 28.5 cents. The company said it expects lower third-quarter revenue, lower gross profit margins from competition, and higher operating expenses because of labor costs in developing new products.
Singapore Airlines (SIA SP), the world’s second- biggest carrier by market value, dropped as much as 0.9% to $13.96. The airline said it plans to raise fuel surcharge by between US$4 and US$32. It also said it filled 73.2% of seats in March from 80.8% a year earlier. The overall load factor climbed to 67.3% from 72.9% a year earlier.
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