Singapore’s Straits Times Index slid 0.1% to 3,183.13 as of 9:18 a.m. local time, heading for a 0.4% decline this week. About three stocks fell for every two that rose in the benchmark index of 30 companies.
Shares on the measure trade at an average 14.6 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 14.6 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.
Allgreen Properties (AG SP), a Singapore-based real estate company controlled by Malaysian billionaire Robert Kuok, added 0.9% to $1.18. The company said first-quarter net income increased to $84.5 million from S$34.9 million a year ago.
C&O Pharmaceutical Technology Holdings (COPT SP), a Chinese drugmaker, rose 1.3% to 38.5 cents. The company said it’s been appointed the exclusive distributor of Flumarin, an injectable antibiotic, in China by Japanese pharmaceutical company Shionogi & Co.
Chemoil Energy (CHEME SP), a supplier of marine fuels, climbed 4.4% to 36 U.S. cents. The company said it expects first-quarter net income will surpass $20 million on increased volumes and improved margins.
DBS Group Holdings (DBS SP), Southeast Asia’s biggest lender, gained 0.4% to $14.98. The bank said first- quarter net income climbed 52% to $807 million from a year earlier as loans increased and it boosted investment banking and trading fees. That beat the $755.3 million average of four analysts’ estimates compiled by Bloomberg.
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