May 16 (Bloomberg) -- Singapore’s Straits Times Index fell 0.9 percent to 3,136.48 as of the close of trading. The measure climbed 2.1 percent last week, the most in five weeks.
Just two stocks 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.
Abterra Ltd. (ABT SP), a commodities trader, tumbled 7.2 percent to S$1.03. The company reported a first-quarter loss of S$3.99 million ($3.2 million), according to a Singapore stock exchange announcement.
Armstrong Industrial Corp. (ARMS SP), a supplier of components used in the electronics and automotive industries, dropped 5.2 percent to 36.5 Singapore cents. The company was cut to “underperform” from “neutral” at CIMB-GK Securities.
Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container-shipping line, fell 2.1 percent to S$1.86. The company posted its first quarterly loss in a year as rising fuel prices and global overcapacity offset increasing demand.
Singapore Airlines Ltd. (SIA SP), the world’s second-largest carrier by market value, declined 0.8 percent to S$14.54. The company was cut to “sell” from “buy” at Citigroup Inc., which said its special dividend doesn’t detract from its “weak” fourth-quarter results and operating outlook.
The brokerage reduced its share-price forecast to S$13.90 from S$16, analysts led by Robert Kong wrote in a report.
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