Singapore’s Straits Times Index rose 1.3 percent to 3,053.51 at the close, its biggest increase since March 21. All but three stocks in the benchmark index of 30 companies advanced.
Shares on the measure trade at an average 14.1 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: Noble Group Ltd. (NOBL SP), a Hong Kong-based supplier of energy, food and mining commodities, increased 2.1 percent to S$1.94. Olam International Ltd. (OLAM SP), a Singapore-based supplier of agricultural commodities, gained 2.8 percent to S$2.61.
The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, added 0.2 percent in New York yesterday, snapping three days of decline.
Palm-oil producers: Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer by sales, gained 1.5 percent to 67.5 Singapore cents. Indofood Agri Resources Ltd. (IFAR SP), the palm-oil unit of Indonesia’s No. 1 noodle maker, increased 2.6 percent to S$1.57. Wilmar International Ltd. (WIL SP), the world’s biggest palm-oil processor by sales, added 0.9 percent to S$5.38.
Crude palm-oil futures for September delivery increased as much as 1.2 percent in Kuala Lumpur today.
CapitaLand Ltd. (CAPL SP), the Singapore-based developer that has S$10.4 billion ($8.4 billion) of assets in China, advanced 3.3 percent to S$2.85. The company said it’s aiming to double its portfolio in the country in the next five years as it expects the economy to expand over the next decade.
Courage Marine Group Ltd. (CMG SP), a Singapore-based shipping company, climbed 6.9 percent to 15.5 Singapore cents. The company the Hong Kong stock exchange approved its proposed listing in the city’s bourse. Trading of Courage Marine shares in Hong Kong is expected to commence on June 24, it said.
Singapore Exchange Ltd. (SGX SP), the operator of the city’s bourse, gained 1.3 percent to S$7.18. The company said it has appointed Julie Heng as senior vice president and head of commodities.
Yangzijiang Shipbuilding Holdings Ltd. (YZJ SP), China’s third-largest shipyard outside state control, climbed 3.6 percent to S$1.45. India Infoline Ltd. initiated coverage of the stock with an “add” rating and a share-price forecast of S$1.63.