Sept. 20 (Bloomberg) -- Singapore’s Straits Times Index gained 0.9 percent to 2,780.84 at the close, erasing losses of as much as 0.3 percent. Eight stocks rose for each that fell in the index of 30 companies.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.
Palm-oil producers: Crude palm-oil futures for December delivery rose as much as 0.9 percent in Kuala Lumpur today.
Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer by sales, jumped 3.7 percent to 69.5 Singapore cents, the highest close since Aug. 4. Wilmar International Ltd. (WIL SP), the world’s largest palm-oil processor, added 0.6 percent to S$5.22.
Lian Beng Group Ltd. (LBG SP), a construction company, gained 2.9 percent to 35.5 Singapore cents. The company said it plans to spin off its engineering and concrete manufacturing businesses and list them on the Taiwan Stock Exchange.
Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, increased 1.4 percent to S$1.11. The company said it transported 8.4 percent more cargo in the four weeks to Aug. 26 from a year earlier. Average freight revenue tumbled 20 percent during the period, it said.
Singapore Airlines Ltd. (SIA SP), the world’s second-largest carrier by market value, gained 1.3 percent to S$11.01. The International Air Transport Association raised its 2011 forecast for global airline earnings by 73 percent because of stronger-than-expected demand in Europe and the Middle East. Carriers will earn $6.9 billion this year, compared with a June profit forecast of $4 billion and last year’s $16 billion, it said.
STX OSV Holdings Ltd. (SOH SP), the world’s biggest maker of oil-rig support vessels by sales, surged 6.1 percent to S$1.22, the biggest advance since Aug. 15. The company said it won contracts from Aker Seafoods ASA to build three stern trawlers for 750 million Norwegian kroner ($132 million).
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