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Singapore’s Straits Times Index gained 0.1% to 3,241.50 as of 9:32 a.m. local time. Three stocks advanced for each that fell in the benchmark equity index of 30 companies.
Shares on the measure trade at an average 14.8 times estimated earnings, compared with about 15.6 times at the end of 2010, 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 14.8 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg.The following shares were among the most active in the market.
Oil-rig builders: JPMorgan Chase & Co. maintained its “overweight” rating on the world’s biggest oil-rig builders and increased its share-price forecasts, saying it expects the companies to secure more orders. Keppel Corp. (KEP SP) gained 0.4% $11.50 after the brokerage raised its share-price estimate to $14.10 from $11.40.
Sembcorp Marine (SMM SP), whose share-price estimate was raised to $6.40 from $5.30, climbed 1.2% to $5.20. The company said it won four contracts, valued at $215 million.
