Singapore’s Straits Times Index gained 0.8% to 3,183.70 as of the close of trading. Thirteen stocks advanced for each that fell in the benchmark equity index of 30 companies.
Shares on the measure trade at an average 15.5 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.
Palm-oil producers: Crude palm-oil futures for March delivery jumped 2.5% in Kuala Lumpur yesterday.
First Resources (FR SP), an Indonesian palm plantation company, advanced 2% to $1.56. Golden Agri-Resources (GGR SP), the world’s second-biggest palm-oil producer, rose 2.6% to 79.5 cents. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, climbed 4% to $2.83.
ECS Holdings (ECS SP), a Singapore-based electronic cabling company, jumped 7% to 84 cents. The company said it wants to raise about US$50 million ($64.8 million) from the listing of its Taiwan depository receipts.
Keppel Corp. (KEP SP), the world’s biggest builder of oil rigs, climbed 0.9% to $10.98. The company said its Keppel Offshore & Marine unit won new contracts totalling $240 million to upgrade a floating production storage and offloading vessel, convert a livestock carrier and build a diving support vessel.
Think Environmental Company (TENV SP), the waste management services company, rose 2.9% to 72 cents, its highest level on record. The company agreed to buy a 70% stake in Mornington Offshore Inc. for US$35 million ($45.4 million), giving it control of gold concessions in the Republic of Mali.
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