Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Singapore Stocks: Golden Agri-Resources, Olam, STX Pan Ocean

Nov. 23 (Bloomberg) -- Singapore’s Straits Times Index declined 2 percent to 3,126.30 at the close, the biggest drop since May 25. Twenty-nine stocks fell in the benchmark equity index of 30 companies.

Shares on the measure trade at an average 15.3 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.

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

Palm-oil producers: Crude palm oil for February delivery dropped as much as 2.5 percent in Kuala Lumpur today.

Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer, slumped 4.2 percent to 68.5 Singapore cents. Indofood Agri Resources Ltd. (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, dropped 3.8 percent to S$2.53.

Wilmar International Ltd. (WIL SP), the world’s biggest palm oil trader, declined 2.1 percent to S$6.02. Deutsche Bank AG lowered its rating to “hold” from “buy.”

Olam International Ltd. (OLAM SP), one of the world’s three biggest cotton traders, sank 3.1 percent to S$3.10. Cotton declined to a four-week low as China, the world’s biggest consumer, took steps to curb speculative trading and cool its economy, eroding demand from textile producers.

StarHub Ltd. (STH SP), Singapore’s second-biggest phone company, fell 0.8 percent to S$2.66. Citigroup Inc. lowered its rating on the stock to “sell” from “hold.”

STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, slipped 1.4 percent to S$13.90 after North Korea fired artillery shells into South Korea, injuring 14 soldiers.

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net.

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.