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 email@example.com.