Singapore Stocks: CapitaCommercial Trust, China Minzhong, Noble
Singapore’s Straits Times Index rose 1.6 percent to 2,791.89, the highest close since Aug. 18. Nine stocks gained for each that fell in the index of 30 companies.
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, increased 1 percent in New York on Aug. 26, extending its advance for a second day.
Noble Group Ltd. (NOBL),, a Hong Kong-based supplier of energy, food and mining commodities, jumped 5.9 percent to S$1.53. Olam International Ltd. (OLAM) , a Singapore-based supplier of agricultural commodities, climbed 3.1 percent to S$2.33. Olam said after market close that fourth-quarter net income rose 38 percent from a year earlier.
CapitaCommercial Trust (CCT) , the office landlord partly owned by CapitaLand Ltd. (CAPL SP), rose 3.1 percent to S$1.17. Daiwa Securities Group Inc. raised its rating on the stocks to “buy” from “outperform,” saying the company is better positioned than its peers to weather a potential decline in office rents. The brokerage lowered its share-price forecast to S$1.50 from S$1.65.
China Minzhong Food Corp. (MINZ SP), a vegetable supplier, advanced 1.7 percent to S$1.195. The company said fourth-quarter net income climbed 33 percent from a year earlier to 96.9 million yuan ($15 million).
Guocoland Ltd. (GUOL) , a developer that gets about 68 percent of sales from China, gained 3 percent to S$2.04. The company said fourth-quarter net income increased 79 percent from a year earlier to S$93.2 million ($77 million).
San Teh Ltd. (SAN) , a supplier of building materials, surged 56 percent to 60 Singapore cents. The company said it agreed to sell its 91 percent stake in San Teh (China) Cement Co. for 949.6 million yuan to a unit of China Resources Cement Holdings Ltd. (1313 HK).
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