Singapore’s Straits Times Index rose 0.2% to 3,085.28 as of 10:30 a.m. local time. Three stocks gained for every two that fell in the gauge 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.
CapitaMall Trust (CT SP), Singapore’s biggest retail property trust, added 0.5% to $1.94. The company said second-quarter distributable income per share increased 3.1% from a year earlier to 2.36 cents.
Global Logistic Properties (GLP SP), the operator of warehouses near seaport hubs, gained 0.5% to $1.97. The company said it signed a long-term lease agreement with DHL Group Services NV in Japan.
K-REIT Asia (KREIT SP), the office landlord partly owned by Keppel Corp. (KEP SP), rose 0.4% to $1.335. The company said it agreed to buy a 50% stake in 8 Chifley Square, an office building in Sydney, Australia, from Mirvac Group (MGR AU) for between A$154.4 million ($200 million) and A$169.8 million. Separately, the trust said second-quarter distributable per share increased 18% from a year earlier to 1.93 cents.
Singapore Airlines (SIA SP), the world’s second- biggest carrier by market value, increased 0.8% to $14.52. The company said it appointed Campbell Wilson, who has worked at the airline for more than 15 years, as chief executive officer of its new low-cost carrier that’s set to start operating next year.
Wilmar International (WIL SP), the world’s largest palm-oil processor by sales, climbed 2% to $5.76. JPMorgan Chase & Co. raised its rating on the stock to “overweight” from “neutral,” saying Wilmar’s Sucrogen unit will benefit from a recent surge in sugar prices.
Yangzijiang Shipbuilding Holdings (YZJ SP), China’s third-largest shipyard outside state control, jumped 2% to $1.26. The company said it’s “confident” of posting at least a 30% increase in net profit in the first half ended June 30. Separately, it said there are no immediate plans to sell convertible bonds.
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