Golden Agri-Resources (E5H.SG) is down 3.1% at $0.775, with a heavy 75 million shares traded, compared with the 50-day average volume of 57 million shares, making it the day’s most active stock on the SGX, and extending its run of losses to a fifth straight session. 

An analyst at a foreign house says part of the recent weakness is due to some USD strength, which adversely affects the price of commodities denominated in dollars, while there’s also been some profit-taking recently in the commodity space; “the stock has had a fantastic run; I don’t think there’s anything that’s really specific with Golden Agri, two-plus percent is well within its the norms for its daily changes and there will always be bursts of activity in the stock, with it being one of the key palm oil plays worldwide. It’s unusual, but not extraordinary.”

 

Orderbook quotes suggest $0.770 as a likely floor for the session.