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Singapore’s Straits Times Index dropped 1.1% to 2,732.12 at the close. Almost four stocks fell for each that rose on the 30-member gauge. The measure gained 3.1% this month, the most since July.
Shares on the measure trade at 16.7 times estimated earnings, compared with about 10 times at the start of the year, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Banks: DBS Group Holdings (DBS SP), Southeast Asia’s biggest bank, led Singapore lenders lower after data from the Monetary Authority of Singapore showed total loans and advances fell 0.2% in October from a year ago, the first decline since Feb. 2003.
DBS sank 3% to S$14.32. United Overseas Bank (UOB SP), the island nation’s second-biggest bank, fell 1% to S$18.84. Oversea-Chinese Banking Corp. (OCBC SP), the smallest of the three local banks, lost 0.4% to $8.38.
Bulk carriers: The Baltic Dry Index, which measures the cost of shipping commodities, dropped 3.5% in London on Nov. 27, taking a six-day slump to 15%.
Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, sank 2.7% to S$1.07. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, slipped 1.6% to 30 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, dropped 1.2% to $13.76.
China Fishery Group (CFG SP), a fishing fleet operator, declined 3% to $1.30. The company said it had a net profit of US$78.1 million ($108 million) in the nine months to September, compared with US$78 million a year ago.
China XLX Fertiliser (CXLX SP), a maker of urea and methanol, climbed 4.6% to 45.5 cents. The company said its shares will start trading on Hong Kong’s stock exchange on Dec. 8.
Mermaid Maritime Pcl (MMT SP), a provider of drilling services to the oil and gas industry controlled by Thoresen Thai Agencies Pcl, fell 2.5% to 77.5 cents. The company said its full-year profit tumbled 38% to 714 million baht ($29.7 million).
Novena Holdings (NOV SP), the furniture maker, dropped 2.6% to 18.5 cents. The company said it will raise as much as $3.2 million from a proposed sales of shares and warrants to existing shareholders.
