Singapore’s Straits Times Index gained 0.4% to 3,209.31 as of 9:50 a.m. local time. Two stocks rose for each that fell on the 30-member gauge.
Shares on the measure trade at an average 15.8 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 15.8 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.
Bulk-shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, gained 0.8% in London yesterday, taking its three-day advance to 2.7%.Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, increased 1.6% to $1.91. Mercator Lines (Singapore) (MRLN SP), an Indian bulk carrier, gained 1.8% to 29 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, rose 0.8% to $14.66.
DBS Group Holdings (DBS SP), Southeast Asia’s biggest bank, climbed 1.6% to $14.84. The company said it has sold $1.7 billion of 4.7% perpetual preference shares.
Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier, gained 1.9% to $2.11. The stock was raised to “outperform” from “neutral” at Credit Suisse Group AG, which increased its share-price estimate to $2.43 from $2.35.
Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, advanced 2.2% to $3.30. Olam’s Indian unit is among companies that won permits to export bales of cotton from India, according to data from the government.