Singapore’s Straits Times Index dropped 0.2% to 3,072.37 as of 9:50 a.m. local time, erasing gains of as much as 0.3%. Almost two stocks fell for each that rose in the gauge of 30 companies.
Shares on the measure trade at an average 14.1 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 14.1 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.
Noble Group (NOBL SP), a Hong Kong-based supplier of commodities, gained 0.5% to $1.885. The company said it will receive US$3.2 billion ($3.9 billion) of revolving credit facilities from banks including Citigroup Inc. and DBS Group Holdings.
Portek International (PORT SP), the operator of port facilities in Indonesia, Algeria, Malta and Gabon, surged 6.1% to $1.40. The company said it received a takeover offer from Mitsui & Co. The Japanese trading company plans to offer $1.40 per Portek share, it said. That exceeds the $1.20 per share bid by International Container Terminal Services Inc. of the Philippines.
Singapore Press Holdings (SPH SP), the city-state’s biggest newspaper publisher, slipped 0.8% to $3.88. The company said third-quarter net income fell 30% to $114.8 million from a year earlier after it didn’t repeat a gain from the sale of a housing project.
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