Singapore shares may trade range-bound in holiday-thinned trade on Monday, little swayed by Chinese central bank’s second interest rate hike in just over two months in an effort to rein in stubbornly high inflation.
The following companies may have unusual price changes in Singapore trading today, say Bloomberg and Thomson Reuters. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index climbed 0.2% to 3,143.80 in holiday shortened trade on Dec 24.
Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, gained 0.4% in New York on Dec 23. Noble Group (NOBL SP), a Hong Kong-based commodities supplier, rose 0.5% to $2.09. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, lost 0.3% to $3.07.
Palm-oil producers: Crude palm-oil futures for March delivery climbed 0.2% in Kuala Lumpur on Dec. 24. Global Palm Resources Holdings (GPR SP) was unchanged at 34.5 cents. First Resources (FR SP), an Indonesian palm plantation company, advanced 1.4% to $1.50.
China-linked developers: The benchmark one year lending rate and the one-year deposit rate will both increase 25 basis points, the People’s Bank of China said in a statement on its website on Dec. 25. CapitaLand (CAPL SP), which counts on China for about a fifth of its sales, climbed 0.3% to $3.65. City Developments (CIT SP), which this month announced its first land purchase in Chongqing, a city in southwest China, gained 0.5% to $12.60.
Meanwhile, CapitaLand also said on Friday its unit The Ascott had discovered unauthorised payments and transfers in its Malaysian operations. The firm had started legal proceedings against three employees and four external parties to recover around 33 million ringgit ($13.9 million).
DBS Group Holdings (DBS SP): Southeast Asia’s biggest bank by assets said it bought 94 million shares of its unit DBS Bank for $1.35 billion, and now holds 2.06 billion shares. The stock fell 0.1% to $14.32.
Mapletree Logistics Trust Management (MLT SP): The Singapore real estate trust said it bought an eastern Singapore warehouse for $13.8 million. The stock increased 0.5% to 95 cents.
Singapore-listed Viking Offshore and Marine (VIKO.SI) said on Friday it had sold around 1.23 million issued and paid up ordinary shares or 35.14% of the share capital of Marine Accomm for $4.8 million.
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