Singapore’s Straits Times Index gained 0.8% to 2,789.04 at the close, sliding 1.3% for the week. Twice as many stocks rose as declined in the index of 30 companies. The following shares were among the most active in the market.
Ezra Holdings (EZRA SP), an offshore support and marine services company, increased 0.5% to 93 cents. The company said no decision has been made on a proposed bond sale. Ezra was responding to a media report that the company had “canned its proposed issue of perpetual bonds.”
Hongkong Land Holdings (HKL SP), a commercial properties developer that receives almost 70% of its revenue from Hong Kong, jumped 4.1% to HK$5.10, the largest increase since Aug. 31. Hong Kong’s Sun Hung Kai Properties , the world’s biggest developer by market value, said yesterday full-year underlying profit rose 55%. The results should help to rebut the market’s overly bearish property outlook, Paul Louie, an analyst at Nomura Holdings Inc., wrote in a note dated today.
Golden-Agri Resources (GGR SP), a palm-oil producer, advanced 3% to 68.5 cents, the highest level since Aug. 4. A unit of the company said Nestle SA will resume buying its palm oil.
Separately, palm oil may rally next year as demand for biofuels cuts soybean oil supply and a potential reversal in monetary policy in China and India boosts demand, said Dorab Mistry, director of Godrej International.
PEC (PEC SP), an engineering services provider to oil and gas industries, gained 1.3% to 79.5 cents. The company said it has won a five-year maintenance and repair services contract.
No comments:
Post a Comment