April 11 (Bloomberg) -- Singapore’s Straits Times Index lost 0.8 percent to 3,160.44 at the close. Six stocks dropped for each that rose in the benchmark index of 30 companies.
Shares on the measure trade at an average 14.4 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.
Ausgroup Ltd. (AUSG SP), a provider of engineering services to the mining and oil and gas industries, surged 22 percent to 50 Singapore cents. The company said it is exploring the possibility of a secondary listing in Australia, where the company gets about 89 percent of its revenue.
Aztech Group Ltd. (AZ SP), a marine logistics company and electronics manufacturer, declined 5.4 percent to 17.5 Singapore cents. The company said it expects to post a first-quarter net loss.
Biosensors International Group Ltd. (BIG SP), a maker of drug-coated stents used to treat blocked arteries, increased 1.6 percent to S$1.25. The company its partner Terumo Corp. (4353 JT), a medical device maker, has won approval to distribute stents using Biosensors’ technology in Japan. Separately, it appointed Ronald Ede as chief financial officer.
Genting Singapore Plc (GENS SP), operator of one of two casino resorts in the city-state, dropped 1.9 percent to S$2.12. JPMorgan Chase & Co. maintained its “neutral” rating on the stock, saying operations the company and its rival Las Vegas Sands Corp. may be negatively affected if the Singapore government imposes regulation to control alleged illegal activities at the casinos.
Wilmar International Ltd. (WIL SP), the world’s palm-oil trader that gets 55 percent of sales from China, slid 1.3 percent to S$5.30. Chinese government officials asked Singapore-based Wilmar to delay increasing the price of cooking oil, the Wall Street Journal said, citing Au Kah Soon, a spokesman for the company.
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