Singapore shares were higher, with container shipping company Neptune Orient Lines and commodities firm Olam International among the biggest gainers.
The Straits Times Index rose 0.3% to 3,056.27, while MSCI index of Asia-Pacific shares outside Japan gained 0.8%.
NOL shares rose as much as 3% with more than 24 million shares changed hands, triple the average volume over the past 30 days, on hopes other carriers will follow industry leader A.P. Moller-Maersk in cutting more capacity to stem falling rates.
Olam shares gained as much as 3.6% on volume of 14.4 million shares, 1.2 times the average full-day volume over the past 30 days. Olam said it had priced its planned issue of S$400 million fixed rate notes due 2022 at 6% per annum.
Proceeds will be used for various purposes including financing capital expenditure and potential acquisition opportunities, the company said.
Shares of YHM Group surged 75%, extending gains after it said “it is in discussions with a party in relation to a possible transaction involving the shares in the company”.
More than 209 million shares were traded, making it the most active stock in the Singapore market on Wednesday.
No comments:
Post a Comment