Breaking News

Tweet TWEET

Singapore Stocks: Neptune Orient Lines, Singapore Airlines, UMS

Singapore’s Straits Times Index dropped 0.3 percent to 2,766.23 as of of the close. About three stocks fell for every two that rose in the benchmark gauge of 30 companies.

The following shares were among the most active in the market. Stock symbols are in parentheses after the company names.

Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest shipping-container line, advanced 2.8 percent to S$1.12, the highest close since Nov. 2. The company lifted a trading halt after denying reports it planned to bid on German competitor Hapag-Lloyd AG.

Neptune Orient may not be able to overcome nationalist sentiment in Germany to make a successful takeover, according to a Samsung Securities Co. report today.

Singapore Airlines Ltd. (SIA) , the world’s second- largest carrier by market value, dropped 1.1 percent to S$10.45, the biggest decline since Nov. 25. One of the airline’s cargo freighters flying from the United Arab Emirates veered off the runway when landing at Singpore’s Changi Airport on Dec. 2, the carrier said.

Singapore Exchange Ltd. (SGX) fell 0.8 percent to S$6.25. Credit Suisse Group AG maintained an “underperform” rating for the bourse, citing “weak” November turnover, according to a report today.

UMS Holdings Ltd. (UMSH) surged 8.6 percent to 38 Singapore cents, set for the biggest advance since Nov. 15. The company announced plans to buy Integrated Manufacturing Technologies Pte Ltd. and Integrated Manufacturing Technologies Inc. for S$28 million ($22 million).

To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net

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

Press spacebar to pause and continue. Press esc to stop.

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.