Singapore’s Straits Times Index added 0.7% to 3,021.19 at the close. Four shares advanced for each that fell in the 30-member gauge.
The following were among the most active shares in the market, according to Bloomberg.
Developers: Shares rose after Nomura Holdings Inc. said the pool of homebuyers may exceed the supply of private residences in the city as household incomes increase.
CapitaLand, Southeast Asia’s biggest developer, climbed 3.5% to $2.99. Keppel Land, the real estate unit of Keppel Corp., gained 2.2% to $3.20. City Developments, Singapore’s second-largest homebuilder, rose 1.4% to $11.13.
ComfortDelGro Corp., the city-state’s biggest operator of buses and taxis, gained 1% to $1.52. The government will help public transport operators increase their bus fleets by 20% over the next five years by funding the cost of 550 such vehicles, Finance Minister Tharman Shanmugaratnam said last week.
Keppel Corp., the world’s biggest oil-rig builder, advanced 1.8% to $10.96 after selling 39% of its Floatel International Ltd. unit for 776.7 million Norwegian krone ($172 million).
Neptune Orient Lines climbed 3.5% to $1.495, tracking a regional advance by container-shipping lines. Hong Kong-listed Orient Overseas International said it will raise rates on routes from Northern Europe to Asia and Maersk Line, the world’s No. 1 container carrier, said it will cut capacity by 9% in Asia-Europe routes to shore up profit.
Oversea-Chinese Banking Corp. added 1.1% to $8.95 after Southeast Asia’s second-largest bank said fourth-quarter profit rose 18% to $594 million from a year earlier. The result beat the $574.3 million estimates of analysts surveyed by Bloomberg.
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