Singapore’s Straits Times Index lost 0.5 percent to 3,145.67 at the close, paring the gauge’s weekly advance to 0.3 percent. Six stocks fell for every five that rose in 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.
Exporters: Amtek Engineering Ltd. (AMTK SP), a supplier of precision components to companies such as Sony Corp., lost 1.5 percent to 96.5 Singapore cents. Creative Technology Ltd. (CREAF SP), the consumer electronics maker that gets 21 percent of sales from the Americas, fell 0.9 percent to S$3.15. Stats Chippac Ltd. (STAT SP), the provider of chip-testing services that counts the U.S. as its biggest market, declined 1.4 percent to 68.5 Singapore cent.
More Americans than forecast filed applications for unemployment benefits last week, a government report showed yesterday. Monthly payrolls data due today may show employers added 165,000 jobs in May, following a 244,000 increase in April, according to a Bloomberg survey of economists.
Dyna-Mac Holdings Ltd. (DMHL SP), a provider of offshore engineering services partly-owned by Keppel Corp. (KEP SP), gained 0.9 percent to 55.5 Singapore cents. The company said it won a contract, valued at S$7 million ($5.7 million), from Keppel Shipyard Ltd.
Straits Asia Resources Ltd. (SAR SP), the owner of coal mines in Indonesia, slipped 1.3 percent to S$3.14. Credit Suisse Group AG lowered its rating to “neutral” from “outperform.”