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Singapore’s Straits Times Index fell 0.4% to 3,153.34 at the close. The gauge rose 0.7% this week, its seventh weekly advance. Four stocks declined for each that climbed on the 30-member gauge.
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.
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.
Boustead Singapore (BOCS SP), a provider of engineering services, gained 1.9% to $1.05. The company said its Boustead Salcon Water Solutions unit won a contract to build a water treatment facility in the city state.
Fraser & Neave (FNN SP), a property developer and brewer, slid 1.3% to $6.26. Kim Eng Holdings lowered its recommendation on the stock to “hold” from “buy.”
Genting Singapore Plc (GENS SP), the operator of one of two casino resorts in the city, fell 2.5% to $1.98, declining for a second day. Morgan Stanley yesterday cut its recommendation on the stock to “equal-weight” from “overweight.”
Noble Group (NOBL SP), the commodities trader that counts China’s sovereign wealth fund as a shareholder, climbed 1.5% to $2.01. The company said it is seeking US$1.5 billion ($1.97 billion) of revolving loan facilities to replace its existing US$645.2 million 364-day revolving loan, which matures this year. The proceeds will also be used for general corporate purposes, it said.
Yamada Green Resources (YGR SP), a Fuzhou City, China- based supplier of shiitake mushrooms, advanced to 37 cents on its trading debut. The company sold 105 million shares at 22 cents in its initial share sale.
Yangzijiang Shipbuilding Holdings (YZJ SP), a China- based shipbuilder, rose 1.7% to $1.83. The company said its listing in Taiwan last month raised NT$3.76 billion ($160 million). The proceeds will be used for working capital, it said.
