Singapore’s Straits Times Index (FSSTI) fell 1 percent to 2,745.71 at the close, with six shares dropping for each that gained in the 30-member gauge. The index slid 1 percent for the week, its fourth straight week of declines.
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
China Developers: China’s home prices fell to a 16-month low in May as officials pledged to keep property curbs that have sapped buyer demand, according to SouFun Holdings Ltd., the nation’s biggest real estate website owner.
GuocoLand Ltd. (GUOL) , the homebuilder that counts China as its second-biggest market, fell 1.9 percent to S$1.535. CapitaLand Ltd. (CAPL) , Southeast Asia’s biggest developer that gets about 22 percent of sales from China, dropped 1.6 percent to S$2.50.
Commodity suppliers: The Thomson Reuters/Jefferies CRB Index (CRY), which tracks 19 commodities ranging from copper to corn, fell 0.8 percent in New York yesterday, extending losses for a third day.
Noble Group Ltd. (NOBL SP), Asia’s biggest listed commodities trader, decreased 2.2 percent to S$1.09. Olam International Ltd. (OLAM) , a Singapore-based supplier of agricultural commodities, slipped 3.3 percent to S$1.61.
Baker Technology Ltd. (BTL) jumped 9.1 percent to 30 Singapore cents, its biggest advance since February 2011, after the provider of engineering services to the oil and gas industry said the Singapore High Court dismissed Sembcorp Marine Ltd. (SMM)’s claims in their “entirety.”
To contact the reporter on this story: Jonathan Burgos in Singapore at email@example.com
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org