Singapore’s Straits Times Index gained 0.3 percent to 3,255.87 at the close. Three stocks rose and for every two that fell in the benchmark equity index of 30 companies.
Shares on the measure trade at an average 14.9 times estimated earnings, compared with about 15.6 times at the end of 2010, 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.
CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest developer, gained 0.8 percent to S$3.84. Nomura Holdings Inc. raised its recommendation to “buy” from “neutral” and increased its share-price estimate to S$4.37 from S$4.25.
Lian Beng Group Ltd. (LBG SP), a Singapore-based construction company, climbed 3 percent to 34 Singapore cents after saying first-half net income doubled to S$22.7 million ($17.6 million) from S$11.4 million a year earlier.
Manhattan Resources Ltd. (MRL SP), a provider of marine and land reclamation services, increased 3.1 percent to S$1.35. The company said it formed a joint venture to bid for a site in China’s Ningbo city. The project is expected to cost 1.1 billion yuan ($166.7 million) if its group wins the bid, the company said.
Olam International Ltd. (OLAM SP), a Singapore-based supplier of agricultural commodities, gained 1.9 percent to S$3.26. The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, climbed 1 percent in New York yesterday, extending its three-day advance 3.4 percent.
United Fiber Systems Ltd. (UFS SP): The Singapore-based construction company and producer of pulp and woodchips surged 30 percent to 6.5 Singapore cents. The company said it signed a S$180 million share subscription and $35 million loan agreement with Asia Star Fund Ltd.
Yangzijiang Shipbuilding Holdings Ltd. (YZJ SP), China’s third-largest shipyard outside state control, gained 2 percent to S$2.05. The company said it won 15 shipbuilding contracts, valued at $415.3 million, in the fourth-quarter.