Singapore Stocks: City Developments, Noble Group, SMB United

Singapore’s Straits Times Index dropped 1 percent to 2,702.34 as of 10:26 a.m. local time. Just two stocks advanced 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 names.

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities ranging from copper to corn, declined 0.7 percent in New York on Nov. 18, extending its decline for a second day.

Noble Group Ltd. (NOBL) , a Hong Kong-based commodities supplier, dropped 2.7 percent to S$1.09. Olam International Ltd. (OLAM) , a Singapore-based trader of agricultural commodities, fell 1.8 percent to S$2.22.

Developers: Singapore residential property prices may fall as much as 10 percent in 2012 after peaking this year amid a weakening macroeconomic environment and rising inventory of unsold properties, Nomura Holdings Inc. said in a report.

CapitaLand Ltd. (CAPL) , Southeast Asia’s biggest developer, fell 2.3 percent to S$2.56. City Developments Ltd. (CIT) dropped 1.7 percent to S$9.93. Keppel Land Ltd. (KPLD) retreated 1.5 percent to S$2.57.

SMB United Ltd. (SMB) , a maker of electrical switchgears, gained 3.3 percent to 31.5 Singapore cents. Boer Power Holdings Ltd. (1685 HK), a China-based maker of electricity-distribution equipment, said it will offer 32 Singapore cents a share for SMB United shares.

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 in Hong Kong at ngentle2@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.