Singapore’s Straits Times Index climbed 1.8 percent to 3,025.16 at the close, trimming losses this week to 2 percent. All but two stocks in the benchmark index of 30 companies advanced.
Shares on the measure trade at an average 13.9 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.
Allgreen Properties Ltd. (AG SP), a Singapore-based real estate company controlled by Malaysian billionaire Robert Kuok, increased 2 percent to S$1.04. The company said full-year net income increased 79 percent to S$290.7 million ($227.7 million) from the previous year.
City Developments Ltd. (CIT SP), Singapore’s second-biggest developer, climbed 3.5 percent to S$11.30. Citigroup Inc. raised its rating to “buy” from “hold,” while Macquarie Group Ltd. boosted its recommendation to “neutral” from “underperform.”
Tiger Airways Holdings Ltd. (TGR SP), a budget carrier partly owned by Singapore Airlines Ltd. (SIA SP), increased 3.7 percent to S$1.40. The company said it plans to buy a 32.5 percent stake in the Philippines’ South East Asian Airlines for $6 million.
United Overseas Bank Ltd. (UOB SP), Singapore’s smallest lender by market value, gained 1.3 percent to S$18.24. The company said fourth-quarter net income increased 35 percent to S$706 million from a year ago. That compares with the S$551 million average estimate of seven analysts compiled by Bloomberg.