Home THE DAILY EDGE Business STI falls 0.8% to 3,185.42 at the close
STI falls 0.8% to 3,185.42 at the close

Tags: SIA | Bio-Treat Technology | Noble Group | Osim International | Singapore Airlines

Written by Bloomberg   
Friday, 10 December 2010 19:17
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Singapore’s Straits Times Index decreased 0.8% to 3,185.42 at the close. Five stocks fell for each that rose in the benchmark equity index of 30 companies, which increased 0.4% this week.

Shares on the measure trade at an average 15.5 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. Stock symbols are in parentheses after the company name.

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, dropped 0.3% in New York yesterday. Raw-sugar futures in New York fell for the third time this week on concern that an import tax will reduce demand from India, the world’s largest user.

Noble Group (NOBL SP), which is investing in sugar refineries in Brazil, sank 1.9% to $2.12. Olam International (OLAM SP), an agricultural commodities supplier, decreased 1.9% to $3.10.

Bio-Treat Technology (BIOT SP), a Singapore-based waste and wastewater treatment company, advanced 10% to 5.5 cents. The company said it won a contract, valued at 500 million yuan ($98.4 million), to build a water treatment facility in Henan, China.

Osim International (OSIM SP), Asia biggest maker of massage chairs outside Japan, slumped 4.1% to $1.63. DMG & Partners Securities Pte lowered its rating to “neutral” from “buy.”

Singapore Airlines (SIA SP), the world’s second- biggest carrier by market value, slid 0.6% to $15.70. The company said the introduction of its 12th Airbus A380 has been delayed after Koito Industries failed to deliver business-class seats on time.

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Last Updated on Friday, 10 December 2010 19:18