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Singapore’s Straits Times Index declined 0.4% to 3,179.15 at the close. Almost four stocks dropped for each that rose on the 30-member gauge.
Shares on the measure trade at an average 15.6 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.
Shares on the measure trade at an average 15.6 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.
Commodity suppliers: The Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, declined 1.9% yesterday in New York.
Noble Group (NOBL SP), a Hong Kong-based commodities supplier, fell 1.6% to $1.91. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, decreased 2.2% to $3.17.
Genting Singapore Plc (GENS SP): Owner of one of two casino resorts in the city advanced 5.1% to $2.26, a record close. The company’s third-quarter earnings may positively surprise, Carey Wong, an analyst at OCBC Investment Research said. The results are expected to be announced on Nov. 12.
Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier, climbed 3.4% to $2.13 after reporting third-quarter profit that beat estimates.
“Global trade is likely to remain firm next year and Neptune Orient will benefit from higher volumes and rates,” Alfred Low, an analyst at Philip Securities in Singapore, wrote in a note to investors today, raising his recommendation on the stock to “buy” from “hold.”
Osim International (OSIM SP), Asia’s biggest maker of massage chairs outside of Japan, advanced 3.8% to $1.09. The company said third-quarter profit increased 86% to $13 million from a year earlier. OCBC Investment Research raised its share-price estimate to $1.52 from $1.29, while DMG & Partners Pte increased its forecast to $1.57 from $1.32.
