Singapore’s Straits Times Index was little changed at 3,125.19 as of the 12:30 p.m. trading break. About the same number of stocks rose and fell in the gauge of 30 companies.
Shares on the measure trade at an average 14.5 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 14.5 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.
Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, lost 0.1% in New York yesterday. Noble Group (NOBL SP), a Hong Kong-based supplier of energy, food and mining commodities, slipped 0.6% to $1.81. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, fell 0.4% $2.61.
Hyflux (HYF SP), Singapore’s biggest water treatment company, increased 1% to $2.04. Citigroup Inc. initiated coverage on the stock with a “buy” rating and a share-price forecast of $2.74. The brokerage said Hyflux will continue to benefit from strong demand in Asia, Middle East and Africa.
Pacific Shipping Trust (PST SP), a provider of financing to the shipping industry, gained 2.7% to 37.5 cents. The company said second-quarter net income rose 2% from a year earlier to US$6.8 million ($8.2 million).
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