Singapore Stocks: Hongkong Land, Noble Group, Olam, Trek 2000
Singapore’s Straits Times Index gained 0.3 percent to 3,191.88 at the close. Two stocks dropped for each that rose in the benchmark equity index of 30 companies.
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, rose 0.4 percent in New York yesterday, extending its four-day rally to 5.3 percent.
Noble Group Ltd. (NOBL SP), a Hong Kong-based commodities supplier, gained 1.4 percent to S$2.11. Olam International Ltd. (OLAM SP), an agricultural commodities supplier, increased 1.3 percent to S$3.21.
Hongkong Land Holdings Ltd. (HKL SP), one of the biggest office landlords in the Chinese city, gained 0.7 percent to $7.11. Prime office rents will rise as much as 35 percent in 2011 because of increased demand and limited supply, Gavin Morgan, head of markets at Jones Lang LaSalle Inc. said at a media briefing today.
Trek 2000 International Ltd. (TREK SP), a maker of thumb- sized computer data storage devices, climbed 3.6 percent to 43 Singapore cents. The company said a U.S. court has ruled that its ThumDrive trademark can be registered in the U.S. Patent and Trademark Office.
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