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Singapore’s Straits Times Index increased 1.3% to 2,825.62 as of the 12:30 p.m. trading break, set for its highest close since Jan. 21. Almost five stocks gained for each that fell on the 30-member gauge.
Shares on the measure trade at 14.9 times estimated earnings, compared with about 17.5 times at the start of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, rose 3.9% in London on March 5, taking a seven-day climb to 20%.
Shares on the measure trade at 14.9 times estimated earnings, compared with about 17.5 times at the start of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, rose 3.9% in London on March 5, taking a seven-day climb to 20%.
Cosco Corp. Singapore (COS SP), the China-based shipbuilder that also operates bulk carriers, climbed 3.3% to $1.25. 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, advanced 3.3% to $15.80.
Commodity suppliers: The Reuters/Jefferies CRB Index, which measures prices of 19 commodities such as corn and copper, rose 0.8% in New York on March 5.
Noble Group (NOBL SP), a Hong Kong-based commodity supplier, gained 3.4% to $3.37. Olam International (OLAM SP), an agricultural commodity supplier, climbed 2.8% to $2.56.
Dairy Farm Holdings (DFI SP), Hong Kong’s second- biggest retailer, surged 5.3% to US$6.54. Citigroup Inc. upgraded the stock to “hold” from “sell” and raised its share price forecast to US$6.70 ($9.38) from US$5.50 previously.
Healthway Medical Corp. (HMED SP), a Singapore-based operator of medical and dental clinics, rose 3% to 17 cents. DMG & Partners Securities Pte maintained its “buy” rating and raised its share price forecast to 26 cents from 21 cents.
Jardine Matheson Holdings (JM SP), the company, which owns real estate, supermarkets and drugstores in Asia and runs hotels worldwide, advanced 4.5% to US$30.30. The company said 2009 profit more than doubled to US$1.6 billion ($2.24 billion) from US$666 million as an economic recovery boosted spending and property values.
Jardine Strategic Holdings (JS SP), Jardine Matheson’s holdings company, surged 6% to US$18.10, the biggest advance on the benchmark index today. The company said it started a tender offer to buy back part of its outstanding share capital, with tenders invited in the range of US$18 to US$19 a share.
