Singapore Stocks: Ascendas, CapitaLand, SGX, Genting Singapore

Singapore’s Straits Times Index (FSSTI) fell 0.6 percent to 3,125.37 at the close. Almost three stocks fell for every one that advanced on the benchmark index of 30 companies.

Shares on the measure trade at an average 14.3 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.

Ascendas Real Estate Investment Trust (AREIT) , Singapore’s biggest industrial property trust, rose 0.5 percent to S$1.98. The company said the amount available for its dividend payout in the year ended March 31 rose 5.6 percent to S$248 million ($199 million) from a year earlier.

CapitaLand Ltd. (CAPL) , Southeast Asia’s biggest developer, dropped 0.3 percent to S$3.37, and CapitaCommercial Trust (CCT) lost 0.7 percent to S$1.41. CapitaLand and its commercial property trust will spend about S$1.4 billion developing a downtown Singapore office tower at its Market Street Car Park site. CapitaCommercial will hold 40 percent of the venture, which is expected to generate a yield exceeding 6 percent. The trust said separately its first-quarter distributable income for dividend payouts fell 4.1 percent to S$52.1 million.

Genting Singapore Plc (GENS) , operator of one of two casino resorts in the city-state, increased 1 percent to S$2.13. Goldman Sachs Group Inc. raised its rating to “buy” from “neutral.”

Singapore Exchange Ltd. (SGX) , the operator of the city- state’s securities and derivatives markets, slid 1.6 percent to S$7.95. The company said third-quarter profit fell 10 percent to S$67 million on costs linked to its failed attempt to buy Australia’s ASX Ltd.

To contact the reporters on this story: Kana Nishizawa in Tokyo at knishizawa5@bloomberg.net.

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

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