Singapore’s Straits Times Index slipped 0.7% to 3,193.86 as of 9:15 a.m. local time. Eight stocks declined for each that rose in the index of 30 companies.
Shares on the measure trade at an average 14.8 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 14.8 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.
Cosco Corp. Singapore (COS SP), the shipbuilding unit of China’s biggest shipping company, slumped 9.4% to $1.535, the most since May 2009. The company said second- quarter net income fell 53% from a year earlier to $31.9 million.
Sembcorp Marine (SMM SP), the world’s second-biggest builder of oil platforms, added 0.4% to $5.42. The company said its Jurong Shipyard unit won contracts valued at US$444 million ($533.8 million) to build two jack-up drill rigs for a subsidiary of Noble Corp. The company will release its second-quarter results today.
Singapore Airlines (SIA SP), the world’s second- largest carrier by market value, dropped 2.2% to $12.83. UBS AG cut its rating on the stock to “neutral” from “buy,” saying a recovery in the company’s earnings will likely be slow.
No comments:
Post a Comment