Singapore’s Straits Times Index dropped 0.4% to 3,102.98, its lowest close since May 6. More than two stocks fell for each that rose in benchmark index of 30 companies.
Shares on the measure trade at an average 14.3 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 14.3 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.
Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier, dropped 1.7% to $1.71. The company named Kenneth Glenn as president of its APL shipping unit after incumbent Eng Aik Meng resigned.
Osim International (OSIM SP), Asia’s biggest maker of massage chairs outside of Japan, slumped 4.9% to $1.54. The company said it will raise $120 million, selling bonds convertible into shares at $2.025 a share. The bonds, which will mature in 2016, carry a coupon rate of 2.75%.
Singapore Airlines (SIA SP), the world’s second- biggest carrier by market value, slipped 0.6% to $14. Credit Suisse Group AG lowered its share-price forecast to $15.90 from $18.50 and maintained its rating at “outperform.”
Wilmar International (WIL SP), which accounts for about half of the Chinese retail market for cooking oils, gained 1.1% to $5.36 after Reuters reported late yesterday that China had removed the retail price limit on vegetable oils. A company spokesman, who declined to be identified, said Wilmar is not aware that the government is removing the cap.
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