Singapore’s Straits Times Index gained 0.5 percent to 3,199.09 as of the 12:30 p.m. trading break. About two stocks rose and for each that fell in the benchmark index.
Shares on the measure trade at an average 14.6 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.
Palm-oil producers: Crude palm-oil futures for April delivery gained as much as 2.4 percent in Kuala Lumpur today.
First Resources Ltd. (FR SP), an Indonesian palm plantation company, advanced 1.4 percent to S$1.43. Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer, jumped 3.5 percent to 73.5 Singapore cents. Indofood Agri Resources Ltd. (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle, rose 0.8 percent to S$2.66.
CWT Ltd. (CWT SP), a logistics company, climbed 3.3 percent to S$1.24. DMG & Partners Securities raised its share-price forecast to S$1.45 from S$1.16 and kept its “buy” rating.
Federal International 2000 Ltd. (FEDI SP), a supplier of equipment to the oil and gas industry, jumped 5.9 percent to 9 Singapore cents. The company said its Federal Offshore Services Pte unit agreed to sell a vessel for $29.1 million.
GuocoLeisure Ltd. (GLL SP), the owner of hotels in the U.K., U.S. and Asia, rose 0.7 percent to 70 Singapore cents. The company said second-quarter profit more than tripled to $19.1 million from $5.5 million a year ago.
Keppel Land Ltd. (KPLD SP), the real estate arm of Keppel Corp., rose 0.7 percent to S$4.56. The company will announce its full-year earnings after market close today. It may report net income of S$452 million ($352 million) for 2010, according to the average estimates by 23 analysts compiled by Bloomberg. That compares with S$280 million the previous year.
Neptune Orient Lines Ltd. (NOL SP): Southeast Asia’s biggest container carrier increased 0.9 percent to S$2.24. Nomura Holdings Inc. raised its recommendation on the stock to “buy” from “neutral.”
Noble Group Ltd. (NOBL SP), a Hong Kong-based commodities supplier, climbed 1.4 percent to S$2.23. The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, increased 0.6 percent in New York on Jan. 21, snapping two days of decline.
Singapore Airlines Ltd. (SIA SP), the world’s second- biggest carrier by market value, gained 0.8 percent to S$15.18. The company said it will increase its fuel surcharge by between $3 and $27 per sector for tickets issued on or before Jan. 27, reflecting rising jet fuel prices.
To contact the reporter on this story: Jonathan Burgos in Singapore at email@example.com.
To contact the editor responsible for this story: Nicolas Johnson at firstname.lastname@example.org.