Singapore shares were up slightly at midday, in line with other Asian bourses after the U.S. Federal Reserve introduced new stimulus steps to boost the flagging economy.
As of 1:12 p.m., the benchmark Straits Times Index was up 0.4% at 3,154.97, while the MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.3%.
Casino operator Genting Singapore and conglomerate Jardine Strategic Holdings were among the biggest gainers,rising 2.7% and 2.8% respectively.
However, palm oil firms underperformed the broader market, tracking a fall in Malaysian palm oil futures on concerns over record inventories.
Golden Agri-Resources fell 1.5% to $0.65 and and Wilmar International lost 0.6% at S$3.16.
Keppel Corp’s latest contract wins worth $420 million from Mexico’s state oil firm shows that non-Brazilian order momentum will continue next year, said CIMB Research.
The latest order wins lifts Keppel’s non-Brazilian orders to $4.5 billion so far this year, above CIMB’s expectations of $4 billion. The brokerage estimates that Keppel could still win another $6 billion worth of orders from now till the end of 2013, including orders from Statoil, Maersk and Azerbaijan’s Socar.
No comments:
Post a Comment