March 8 (Bloomberg) -- Singapore’s Straits Times Index advanced 1.2 percent to 3,103.84 at the close. Almost five stocks rose for each that fell in the benchmark index of 30 companies.
Shares on the measure trade at an average 14.2 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.
City Developments Ltd. (CIT SP), Singapore’s second-largest developer, climbed 1.6 percent to S$11.36. The company said it sold 150 residential units at its H2O Residences project in northeast Singapore at an average price of S$920 per square foot. The project will have 521 apartment units when completed, it said.
Hyflux Ltd. (HYF SP), Singapore’s biggest provider of water-treatment services, surged 12 percent to S$2.05. The company said the city’s water utility chose the company as the preferred bidder for the nation’s second and largest water desalination facility. The project will cost S$890 million ($703 million) to build, it said.
Keppel Corp. (KEP SP), the world’s biggest builder of oil rigs, climbed 3.4 percent to S$12.10. The company said it won an order, valued at $195 million, to build a jack-up drilling rig for Perforadora Central SA de CV, a Mexican oil drilling services provider.
Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, increased 1 percent to S$2.08. The company said average freight rates climbed 9.8 percent in the five weeks to Feb. 11 from a year earlier as it handled 4.6 percent more cargo during the period.
United Overseas Bank Ltd. (UOB SP), the smallest Singapore lender by market value, advanced 1.9 percent to S$18.96. The company said it will offer a yuan-denominated bond fund by the end of March. It said it will also introduce yuan deposit accounts to tap the “increasing investor appetite for the appreciating Chinese currency.”
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