Singapore’s Straits Times Index gained 0.1 percent to 3,244.94 at the close. Almost two stocks rose 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. Stock symbols are in parentheses after the company name.
Amtek Engineering Ltd. (AMTK SP), a supplier of precision components to companies such as Sony Corp., climbed 3.1 percent to S$1.35. Credit Suisse Group AG initiated coverage of the stock with an “outperform” rating and a share-price forecast of S$1.75. DBS Group Holdings Ltd. also recommended the stock as a “buy” yesterday.
CapitaCommercial Trust (CCT SP), the office landlord partly owned by CapitaLand Ltd. (CAPL SP), lost 0.7 percent to S$1.49. JPMorgan Chase & Co. lowered its rating on the stock to “underweight” from “neutral.”
Hyflux Ltd. (HYF SP), Singapore’s biggest publicly traded water utility company, climbed 1.7 percent to S$2.38. The company said it won three contracts in China, valued at $45 million.
Overseas Union Enterprise Ltd. (OUE SP), a Singapore-based hotel operator, gained 3.2 percent to S$3.55. The company said it has established a S$1 billion ($775 million) multi-currency medium-term note program.
Straits Asia Resources Ltd. (SAR SP), the owner of coal mines in Indonesia, surged 9.1 percent to S$2.88, its highest close since July 16, 2008. The company said it has received a permit from the Indonesian government that allows it to boost production capacity at its Sebuku mine. Goldman Sachs Group Inc. raised its rating on the stock to “neutral” from “sell.”
To contact the reporter on this story: Jonathan Burgos in Singapore at email@example.com.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.