Singapore’s Straits Times Index gained 0.4 percent to 2,744.17 at the close. Two stocks rose for each that fell in the index of 30 companies. The gauge climbed 3.9 percent this week, the biggest weekly advance since March.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company names.
Palm-oil producers: Crude palm-oil futures for December delivery gained as much as 1.8 percent in Kuala Lumpur today.
Golden Agri-Resources Ltd. (GGR) , the world’s second- biggest palm-oil producer by sales, increased 1.6 percent to 63 Singapore cents. Wilmar International Ltd. (WIL SP), the world’s largest palm-oil processor, advanced 2 percent to S$4.99.
Genting Singapore Plc (GENS) , the owner of one of two casino resorts in the city-state, gained 1.3 percent to S$1.62. India Infoline Ltd. reiterated its “buy” rating on the stock, saying the opening of a new hotel next year will boost revenues at Resorts World Sentosa.
Midas Holdings Ltd. (MIDAS) , a supplier of aluminum parts used in train carriages in China, surged 12 percent to 41.5 Singapore cents after Caijing magazine reported yesterday that China’s railway ministry is getting 200 billion yuan ($31.3 billion) in financing. James Koh, an analyst at Kim Eng Holdings Ltd., said the funds may mean new contracts for Midas. The stock tumbled as much as 20 percent after a Shanghai subway collision last month sparked concern of spending cuts on railway projects in China.
To contact the reporter on this story: Jonathan Burgos in Singapore at firstname.lastname@example.org.