July 13 (Bloomberg) -- Singapore’s Straits Times Index gained 0.4 percent to 3,088.42 at the close. Three stocks rose for every two that fell 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.
Developers in China: Homebuilders in China advanced after the nation’s economy grew at a slower pace, a moderation that may ease inflation pressures. Demand is holding up in the fastest-growing major economy even after the central bank boosted lending rates five times since mid-October and lifted bank reserve requirements to a record.
CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest developer that gets about 21 percent of sales from China, climbed 2.4 percent to S$2.95. Yanlord Land Group Ltd. (YLLG SP), a Chinese homebuilder, increased 1.3 percent to S$1.20. Guocoland Ltd. (GUOL SP), the real estate company that counts China as its biggest market, added 0.9 percent to S$2.16.
Noble Group Ltd. (NOBL SP), a Hong Kong-based supplier of commodities, gained 1.1 percent to S$1.895. The company said it will receive $3.2 billion of revolving credit facilities from banks including Citigroup Inc. and DBS Group Holdings Ltd.
Portek International Ltd. (PORT SP), the operator of port facilities in Indonesia, Algeria, Malta and Gabon, surged 6.1 percent to S$1.40 before trading was halted. The company said it received a takeover offer from Mitsui & Co. The Japanese trading company plans to offer S$1.40 per Portek share, it said. That exceeds the S$1.20 per share bid by International Container Terminal Services Inc. of the Philippines.
Singapore Technologies Engineering Ltd. (STE SP): Asia’s biggest aircraft maintenance company rose 1 percent to S$2.99. The company said its ST Kinetics unit won a contract to supply buses to SMRT Corp. (MRT SP), operator of commuter trains, public buses and taxis in Singapore.
Singapore Press Holdings Ltd. (SPH SP), the city-state’s biggest newspaper publisher, lost 0.5 percent to S$3.89. The company said third-quarter net income fell 30 percent to S$114.8 million ($94 million) from a year earlier after it didn’t repeat a gain from the sale of a housing project.
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