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Singapore Stocks: CapitaMall Trust, Global Logistic, Noble Group

Singapore’s Straits Times Index fell 1 percent to 3,043.49 at the close, taking losses this week to 0.6 percent. All but two stocks in the benchmark index of 30 companies declined.

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.

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, fell 1.6 percent in New York yesterday, extending its decline for a third day.

Noble Group Ltd. (NOBL SP), a Hong Kong-based commodities supplier, dropped 1.9 percent to S$2.02. Olam International Ltd. (OLAM SP), a Singapore-based supplier of agricultural commodities, sank 2.6 percent to S$2.63.

Real estate companies in Japan: Shares of Singapore companies with real estate holdings in Japan declined after a magnitude 8.9 earthquake struck off the country’s northeast, sending waves crashing through coastal towns and shaking buildings in Tokyo.

Global Logistic Properties Ltd. (GLP SP), the logistics company that counts Japan as its biggest market, declined 3.1 percent to S$1.90. Mapletree Logistics Trust (MLT SP), which gets about 19 percent of sales from Japan, dropped 2.7 percent to 91 Singapore cents. Saizen Real Estate Investment Trust (SZREIT), which owns residential apartments in Japan, slumped 6.1 percent to 15.5 Singapore cents.

CapitaMall Trust (CT SP), Singapore’s biggest retail property trust, slipped 1.1 percent to S$1.81 after the company increased the size of its convertible bond sale to S$250 million ($196 million) from S$200 million because of strong demand. The fund-raising exercise was “a rather unnecessary move” as CapitaMall trust had about S$713 million cash as of Dec. 31 and a gearing of about 38 percent, JPMorgan Chase & Co. analysts Joy Wang and Christopher Gee wrote in a note to clients today.

SMRT Corp. (MRT SP): Singapore’s biggest commuter train operator slipped 1 percent to S$1.91. Global Logistic will replace SMRT on the benchmark Singapore index effective March 21, according to a statement by the Singapore Exchange Ltd. (SGX SP), Singapore Press Holdings Ltd. (SPH SP) and FTSE International Ltd.

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