Singapore’s Straits Times Index dropped 0.9% to 2,701.17 at the close. Six stocks fell for each that rose in the index of 30 companies. The following shares were among the most active in the market.
Palm-oil producers: Crude palm-oil futures for December delivery dropped as much as 2.1% in Kuala Lumpur today.
Palm-oil producers: Crude palm-oil futures for December delivery dropped as much as 2.1% in Kuala Lumpur today.
Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer by sales, sank 3.1% to 63 cents. Indofood Agri Resources (IFAR SP), the plantation unit of Indonesia’s No. 1 noodle maker, slid 2.7% to $1.27.
CapitaMall Trust (CT SP), Singapore’s biggest retail property trust, declined 1.9% to $1.855. Daiwa Securities Group Inc. lowered its rating on the stock to “hold” from “outperform,” saying valuations are less attractive compared with office landlords and hotel operators.
Midas Holdings (MIDAS SP), a supplier of aluminum alloy profiles used in train carriages in China, dropped 2.5% to 39 cents. A Shanghai subway train rammed into the back of another locomotive yesterday, sparking speculation China will slow its rail expansion. China has slashed rail construction since 40 people were killed in a high- speed crash in July.
Sunpower Group (SPWG SP), a maker of energy saving and environmental protection devices, added 2.3% to 22 cents. The company said it won a contract, valued at US$8.5 million ($10.9 million), to supply heat recovery equipment to JSW Steel (JSTL IN), the third-biggest steel maker in India by sales.
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