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Singapore’s Straits Times Index climbed 0.6% to 2,869.99 at the close. Almost three stocks gained for each that fell on the 30-member gauge.
Shares on the measure trade at 14.1 times estimated earnings, compared with about 17.4 times at the end of 2009, according to Bloomberg data. The following shares were among the most active in the market.
Shares on the measure trade at 14.1 times estimated earnings, compared with about 17.4 times at the end of 2009, according to Bloomberg data. The following shares were among the most active in the market.
Hotel operators: Shares of hotel operators rose after the Singapore Tourism Board said visitor arrivals in the city-state increased 30.3% from a year ago. CDL Hospitality Trusts (CDREIT SP), partly owned by City Developments (CIT SP), climbed 1.6% to $1.75. Overseas Union Enterprise (OUE SP), a hotel and shopping center operator, advanced 5.5% to $13.12. Mandarin Oriental International (MAND SP) rose 1.4% to $1.45.
CapitaCommercial Trust (CCT SP), the office landlord partly owned by CapitaLand (CAPL SP), increased 2.5% to $1.22. Deutsche Bank AG initiated coverage of the stock with a “buy” rating and a share-price forecast of $1.38.
China Gaoxian Fibre Fabric Holdings (CGXF SP), a maker of polyester yarn and warp-knit fabric, surged 7.9% to 20.5 cents. The company said it is seeking dual primary listing on the Korean stock exchange.
Jardine Cycle & Carriage (JCNC SP), an automotive distributor that got 89% of sales from Indonesia in 2008, gained 2.5% to $30.10. The stock was rated “overweight” with a share-price forecast of $41 in new coverage by Morgan Stanley.
Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier, climbed 2% to $2.03. The company established a program to sell US$1.5 billion ($2.07 billion) of bonds.
Pteris Global (PTRS SP), a Singapore-based supplier of airport-logistics equipment, jumped 4.7% to 22.5 cents. The company, previously known as Inter-Roller Engineering, said it won a $29 million contract to design and supply baggage screening systems at the Changi Airport.
Sound Global (SGL SP), a provider of wastewater- treatment services in China, declined 8.2% to 78 cents. The company, previously known as Epure International, said it postponed a dual listing in Hong Kong and the sale of new stock as the plan couldn’t be undertaken “on acceptable terms.”
