Singapore’s Straits Times Index dropped 0.8% to 3,107.01 at the close, having swung between gains and losses at least eight times. Three stocks fell for each that rose in the 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.
Palm-oil producers: Crude palm-oil futures for October delivery fell as much as 1.1% in Kuala Lumpur today. Golden Agri-Resources (GGR SP), the world’s second-biggest palm-oil producer by sales, decreased 1.4% to 71 cents. Indofood Agri Resources (IFAR SP), the plantation unit of Indonesia’s No. 1 noodle maker, declined 2.5% to $1.59.
LMA International NV (LMA SP), a medical-equipment maker, surged 10% to 33 cents. The company said second-quarter net income jumped to US$10.4 million ($12.6 million) from US$2.2 million a year earlier.
Oversea-Chinese Banking Corp. (OCBC SP), Singapore’s second-largest lender by market value, slipped 2% to $9.68. The company said second-quarter net income increased 15% from a year earlier to $577 million. That’s less than the $603 million average of eight estimates compiled by Bloomberg.
Roxy-Pacific Holdings (ROXY SP), a Singapore-based homebuilder, gained 2.2% to 46.5 cents. The company said second-quarter net income increased 15% from a year earlier to $14.9 million.
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