STI climbs 2.7% to 2,725.91 at closing

Singapore’s Straits Times Index climbed 2.7% to 2,725.91 at the close, first advance in four days. All but three stocks rose in the index of 30 companies. 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, gained 0.4% in New York yesterday, its first advance in four days.

Noble Group (NOBL SP), a Hong Kong-based supplier of energy, food and mining commodities, surged 5.1% to $1.45. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, increased 6.6% to $2.42.

 

Palm-oil producers: Crude palm-oil futures for December delivery gained as much as 1.5% in Kuala Lumpur today, heading for its first advance in five days.

 

Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer by sales, advanced 3.2% to 65 cents. Wilmar International (WIL SP), the world’s largest palm-oil processor, jumped 3.6% to $5.24.

 

Hsu Fu Chi International (HFCI SP), a China-based snack and candy maker, gained 2.5% to $4.10. The company said shareholders approved the proposed acquisition by Nestle SA, the world’s largest food company, of a 60% stake in the company. Nestle in July offered $2.07 billion, or $4.35 a share, for the stake.

 

Singapore Press Holdings (SPH SP), the city-state’s biggest newspaper publisher, increased 1.6% to $3.78. JPMorgan Chase & Co. raised its rating on the stock to “overweight” from “neutral,” saying rental income from its new shopping mall will help cushion declining advertising revenue at its newspapers.