Singapore’s Straits Times Index dropped 1% to 3,084.96 as of 10:42 a.m. local time. All but two stocks in the gauge of 30 companies declined.
Shares on the measure trade at an average 14.2 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 14.2 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.
Oil rig builders: The world’s biggest builders of oil platforms declined after crude oil futures fell for a third in New York as concern that the European debt crisis will spread stoked speculation that fuel demand may falter.
Keppel Corp. (KEP SP), the world’s No. 1 builder of oil rigs, decreased 1.6% to $10.71. Smaller rival Sembcorp Marine (SMM SP) lost 1.2% to $5.16.
Cheung Woh Technologies (CWM SP), a Singapore-based supplier of components for hard-disk drives, declined 2% to 25 cents. The company said first-quarter net income tumbled 79% to $1.3 million from a year earlier.
Singapore Press Holdings (SPH SP), the biggest newspaper publisher in the city, slid 1.3% to $3.90. The company will release its third-quarter earnings today.
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