July 12 (Bloomberg) -- Singapore’s Straits Times Index dropped 1.3 percent to 3,077.36 at the close. About six stocks fell for each that rose in the gauge of 30 companies.
Shares on the measure trade at an average 14.2 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.
Oil rig builders: The world’s biggest builders of oil platforms declined after crude oil futures fell for a third day in New York as concern that the European debt crisis will spread stoked speculation that fuel demand may falter.
Keppel Corp. (KEP SP), the world’s No. 1 builder of oil rigs, decreased 2 percent to S$10.66. Smaller rival Sembcorp Marine Ltd. (SMM SP) lost 1.3 percent to S$5.15.
Palm-oil producers: Crude palm-oil futures for September delivery fell as much as 1.3 percent in Kuala Lumpur today, heading for a second day of decline.
Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest producer of the fuel by sales, dropped 2.1 percent to 69 Singapore cents. Wilmar International Ltd. (WIL SP), the world’s largest palm-oil processor by sales, decreased 2.5 percent to S$5.53.
Cheung Woh Technologies Ltd. (CWM SP), a Singapore-based supplier of components for hard-disk drives, sank 5.9 percent to 24 Singapore cents. The company said first-quarter net income tumbled 79 percent to S$1.3 million ($1 million) from a year earlier.
Singapore Press Holdings Ltd. (SPH SP), the biggest newspaper publisher in the city, slid 1 percent to S$3.91 before the release of its third-quarter earnings.
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