Singapore’s Straits Times Index (FSSTI) dropped 1 percent to 2,888.29 at the close of trading. About four shares fell for each that rose in the 30-member gauge.
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
Chinese developers: Real estate companies that get revenue from China declined after Centaline Property Agency Ltd., the biggest real estate brokerage in the mainland, said home sales in Beijing, Shanghai, Guangzhou and Shenzhen fell 66 percent during the the week-long Lunar New Year break compared with the holiday period a year earlier.
Export-related stocks: Shipping companies and electronics manufacturers dropped after a report showed the U.S. economy grew at a slower pace in the fourth quarter than economists estimated.
Neptune Orient Lines Ltd. (NOL SP), a container carrier that counts the Americas as its biggest market, fell 3 percent to S$1.28. Hi-P International Ltd. (HIP) , which assembles BlackBerry smartphones, slid 2.2 percent to 65.5 Singapore cents. STATS ChipPAC Ltd. (STAT) , a chip tester that gets about 72 percent of revenue from the U.S., lost 1 percent to 48 Singapore cents.
Palm-oil producers: Crude palm-oil futures for April delivery decreased as much as 1.6 percent in Kuala Lumpur today.
Wilmar International Ltd. (WIL) , the world’s largest palm-oil processor, slid 1.1 percent to S$5.39. First Resources Ltd. (FR) , which operates plantations in Indonesia, slipped 0.9 percent to S$1.645.
Mapletree Industrial Trust (MINT) , an industrial landlord partly owned by Temasek Holdings Pte, gained 3.2 percent to S$1.115. UBS AG reiterated its “buy” rating on the stock, citing improving occupancy and rents.
Yoma Strategic Holdings Ltd. (YOMA) , a developer of properties in Myanmar, surged 29 percent to 35.5 Singapore cents, its highest close since February 2007, on prospects the company will prosper from reforms in the country. The government there is drafting a law on tax incentives to attract foreign investors, the economic minister was quoted as saying by the Bangkok-based The Nation newspaper today.
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