Singapore Stocks: Global Logistic, STX Pan Ocean, Yanlord Land

Singapore’s Straits Times Index slipped 0.6 percent to 2,867.18 at the close, after swinging between a decline of 1 percent and an advance of 0.9 percent. Three stocks fell for each that rose 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.

Developers: The government raised development charges for commercial, residential and hotel properties for the next six months starting today, according to a statement by the Urban Redevelopment Authority. Development charges for houses will increase by an average 17 percent, while those for apartments will rise 12 percent, according to the statement.

CapitaLand Ltd. (CAPL) , Southeast Asia’s biggest developer by market value, slid 1.9 percent to S$2.57. Keppel Land Ltd. (KPLD) , the real-estate unit of Keppel Corp. (KEP SP), lost 1 percent to S$3.06.

Global Logistic Properties Ltd. (GLP) , an operator of warehouses in China and Japan, surged 4.2 percent to S$1.74. The company said it and the Canada Pension Plan Investment Board will each invest $250 million over three years in a joint venture to develop logistics facilities in Japan.

STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, gained 2.6 percent to S$9.01. The Baltic Dry Index, a measure of commodity shipping costs, advanced 5.3 percent in London yesterday, snapping a three-day decline.

Yanlord Land Group Ltd. (YLLG) , a homebuilder in China, rose 1.1 percent to 91.5 Singapore cents. The company said it sold 155 residential units of Yanlord Sunland Gardens, an apartment project in Shanghai, for 1.7 billion yuan ($266 million).

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net.

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

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