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,sooner or later.
Singapore’s Straits Times Index advanced 1.2% to 3,062.23 as of
12:30 p.m. trading break. Twenty-eight stocks in the benchmark index of
30 companies rose.
Shares on the measure trade at an average 14.1 times estimated
earnings, compared with about 15.6 times at the end of 2010, according
to data compiled by Bloomberg. The following shares were among the most
active in the market.
Palm-oil producers: Crude palm-oil futures for May delivery gained
as much as 1.6 in Kuala Lumpur today, extending its advance to a third
day.
Golden Agri-Resources (GGR SP), the world’s second- biggest
palm-oil producer, climbed 3.7% to 71 cents. Indofood Agri Resources (IFAR
SP), the palm-oil unit of Indonesia’s biggest noodle maker, gained 2.1%
to $2.40. Wilmar International (WIL SP), the world’s largest
palm-oil trader, advanced 3.6% to $5.25.
Hi-P International (HIP SP), the electronics manufacturing
services provider whose clients include Apple Inc. and BlackBerry-maker Research
in Motion, climbed 1.7% to $1.22. Apple’s introduction of a new
version of the iPad should benefit Hi-P because it’s been
supplying a “mechanical component” for the tablet computer, Tan Ai Teng,
an analyst at DBS Group Holdings, wrote in a note to clients
today.
Hyflux (HYF SP), the Singapore company that has desalination
projects in Algeria and Libya, gained 1.7% to $1.84. The company said
it will increase focus on Asia as its projects in Libya face delays amid
mounting political unrest in the North African nation. Separately, the
company said it is exploring the possibility of issuing preference
shares to help fund investments in Asia.
Keppel Corp. (KEP SP), the world’s biggest builder of oil
rigs, gained 2.3% to $11.76. The company said a unit bought a 27.8%
stake in Dyna-Mac Holdings (DMHL SP), a provider of engineering
services to the oil and gas industry, for $87.5 million. Dyna-Mac surged
12% to 42 cents.
Singapore Exchange (SGX SP), operator of the city’s
securities and derivatives exchange, gained 0.8% to $7.91. The company
said securities turnover increased 32% in February to $31.5 billion from
a year earlier, while trading of exchange traded funds tripled to $628
million. Derivatives volume jumped 39% in the same period, it said.