Singapore Stocks: Broadway, Hi-P, Wheelock, Yangzijiang
Singapore’s Straits Times Index (FSSTI) lost 0.1 percent to 3,018.69 as of 12:10 p.m. local time. Two shares advanced for each that fell in the 30-member gauge.
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
Broadway Industrial Group Ltd. (BWAY) , a supplier of packaging materials to Apple Inc. and maker of hard disk drive components, surged 10 percent to 44 Singapore cents. CIMB Group Holdings Bhd raised its rating on the stock to “trading buy” from “underperform,” saying earnings may rebound this year.
Hi-P International Ltd. (HIP) , an electronics manufacturer whose clients include BlackBerry maker Research in Motion Ltd., jumped 8.9 percent to 98 Singapore cents, extending gains for a fifth day. The stock climbed 20 percent last week on speculation it has secured a contract to supply metal casings for Apple’s iPhone 5. The company said yesterday it’s “currently working on potential new metal casing and parts projects with some of its customers.”
Wheelock Properties (S) Ltd. (WP) rose 1.2 percent to $1.645 after the real-estate company reported fourth-quarter net income increased to S$121 million ($97 million) from S$117.3 million a year earlier.
Yangzijiang Shipbuilding Holdings Ltd. (YZJ) , China’s third-largest shipyard outside state control climbed 3.8 percent to S$1.36 after the company won orders, valued at $206.2 million, for seven vessels.
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