Singapore’s Straits Times Index gained 0.2% to 3,139.85 at the close. Two stocks rose for each that fell in benchmark equity index of 30 companies.
Shares on the measure trade at an average 15.3 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.
Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, gained 1.1% in New York yesterday, extending its two-day advance to 2.2%. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, increased 2% to $3.10. Noble Group (NOBL SP), a Hong Kong-based commodities supplier, gained 1.5% to $2.07. Noble also advanced after the company agreed to buy sugar mills in Brazil for US$950 million ($1.25 billion), including debt, to increase its production of the sweetener by 81%.
Palm-oil producers: Crude palm-oil futures for March delivery climbed for a second day in Kuala Lumpur today. Golden Agri-Resources (GGR SP), the world’s second-biggest palm-oil producer, increased 1.3% to 76.5 cents. First Resources (FR SP), an Indonesian palm-oil producer, advanced 2.8% to $1.45. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, gained 1.9% to $2.73.
Genting Singapore Plc (GENS SP), part of Malaysia’s Genting Bhd., rose 1.4% to $2.11. Genting’s Resorts World Sentosa and Marina Bay Sands may post US$2.8 billion ($3.7 billion) in casino revenue this year and US$5.5 billion in 2011, Today reported, citing PricewaterhouseCoopers LLP.
Singapore Airlines (SIA SP), the world’s second- biggest carrier, increased 0.9% to $15.32. Goldman Sachs Group Inc. reiterated its “buy” rating on the company even as it lowered its rating on the airline sector to “neutral” from “attractive.”
XinRen Aluminum Holdings (XAH SP), a China-based producer of the metal, rose 1% to 50 cents. The company said it plans to triple its annual production capacity to 150,000 tonnes by the end of 2011.
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