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Singapore’s Straits Times Index was little changed at 2,736.24 as of 9:52 a.m. local time. Almost as many stocks rose as fell on the 30-member gauge. The following shares were among the most active in the market.
Bulk carriers: The Baltic Dry Index, which measures the cost of shipping commodities, rose 3.7% to 3,748 in London yesterday, its highest since June 30. The gauge has risen 26% in the past 10 days.
Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, gained 1.9% to S$1.10. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, climbed 1.6% to 31 cents.
China Eratat Sports Fashion (CERAT SP), a maker of athletic shoes and apparel, tumbled 4% to 24 cents. The company said profit before tax declined 21% from a year earlier to 29.4 million yuan ($6 million).
MFS Technology (MFS SP), the maker of flexible circuit boards used in mobile phone, slipped 2% to 24 cents. The company said it had a full-year loss of $12.7 million, compared with a loss of $10.1 million a year ago.
SBS Transit (SBUS SP), Singapore’s biggest bus operator, gained 0.6% to $1.74. The company said third- quarter profit increased 27% from a year earlier to $10.6 million.
Singapore Airlines (SIA SP), the world’s biggest carrier by market value, added 1% to $14.22. The company may add back some capacity as it is seeing a “definite” pickup in business class traffic, Chief Executive Officer Chew Choon Seng said yesterday.
Venture Corp. (VMS SP), Singapore’s biggest publicly traded electronics manufacturing services provider, dropped 3.1% to $9.02. The company said third-quarter profit fell 4.7% to $38.2 million.
Yangzijiang Shipbuilding Holdings (YZJ SP), a China- based shipbuilder, jumped 7.1% to $1.06. The stock was added to the MSCI Singapore Index.
