STI drops 0.8% to 2,698.80 at closing

Singapore’s Straits Times Index dropped 0.8% to 2,698.80 at the close, extending this week’s decline to 3.2%. Four stocks fell for every three that 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, fell 4.4% in New York yesterday, extending its decline for a second day.

Noble Group (NOBL SP), a Hong Kong-based supplier of energy, food and mining commodities, dropped 3.3% to $1.455. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, declined 2.5% to $2.39.

 

Palm-oil producers: Crude palm-oil futures for December delivery dropped as much as 1.9% in Kuala Lumpur today, heading for its third day of decline.

 

Golden Agri-Resources, the world’s second-biggest palm-oil producer by sales GGR SP, fell 2.2% to 66 cents. Wilmar International (WIL SP), the world’s largest palm-oil processor, slipped 1.4% to $5.09.

 

Swiber Holdings (SWIB SP), a provider of offshore logistic services, climbed 4% to 52.5 cents. The company said it won a contract, valued at $155 million (4201 million), for the construction of a pipeline in South Asia.

 

Venture Corp. (VMS SP), a provider of electronics manufacturing services, slid 1.5% to $7.09. Citigroup Inc. cut its share-price forecast to $8 from $9.30, saying it a recovery in sales in the second-half will likely be muted due to macroeconomic headwinds. The brokerage maintained its “buy” rating on the stock.