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Singapore’s Straits Times Index rose the most in two weeks, climbing 1.5% to 3,188.37 as of 12:46 p.m. local time. Twenty-three stocks advanced and three fell in the benchmark equity index of 30 companies.
Shares on the measure trade at an average 15.6 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 15.6 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.
Suppliers of palm oil gained after crude palm oil for January delivery rose as much as 1.1% in Kuala Lumpur.
Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, jumped 5.4% to 68.5 cents. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, rose 1.2% to $2.63. Wilmar International (WIL SP), the world’s largest palm-oil trader, climbed 0.9% to $6.46.
CDL Hospitality Trust (CDREIT SP), the hotel operator partly-owned by City Developments (CIT SP), gained 0.5% to $2.15. JPMorgan Chase & Co. raised its share-price forecast to $2.30 from $2.10 and maintained its “overweight” rating.
Oversea-Chinese Banking Corp. (OCBC SP), the lender that owns Singapore’s biggest life insurer, rose 1.8% to $9.17. The bank said third-quarter net income rose to $570 million from $450 million a year earlier. That beat the $551.8 million average estimate of eight analysts surveyed by Bloomberg.
SMRT Corp. (MRT SP), Singapore’s biggest commuter train operator, fell 0.5% to S$2.04. The company said second- quarter profit slipped 13% to $45.8 million.
Thomson Medical Centre (THOM SP), a Singapore-based hospital operator, surged 61% to $1.74. The company said Sasteria, an investment vehicle of Singaporean billionaire Peter Lim, offered to buy the rest of the company after taking a 39.34% stake. The mandatory conditional offer is for $1.75 a share, it said.
Venture Corp. (VMS SP), Singapore’s biggest publicly listed contract maker of electronics, rose 1.7% to $9.21. The company said third-quarter net income climbed 27% to $48.6 million from a year earlier.
