Singapore’s Straits Times Index dropped 1.2 percent to 2,697.98, its lowest close since Oct. 20. Six stocks declined for each that rose 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 names.
Developers: Singapore residential property prices may fall as much as 10 percent in 2012 after peaking this year amid a weakening macroeconomic environment and rising inventory of unsold properties, Nomura Holdings Inc. said in a report.
CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest developer, fell 3.1 percent to S$2.54. City Developments Ltd. (CIT SP) declined 1.7 percent to S$9.93. Keppel Land Ltd. (KPLD SP) dropped 2.3 percent to S$2.55.
Exporters: Shares of exporters, port operators and shipping companies declined after the government said economic growth in 2012 will slow amid “deteriorating external macroeconomic conditions.”
Amtek Engineering Ltd. (AMTK SP), a supplier of precision components to companies including Sony Corp., sank 6.5 percent to 50 Singapore cents. Neptune Orient Lines Ltd., Southeast Asia’s largest container carrier fell 5.7 percent to 99.5 Singapore cents. Hutchison Port Holdings Trust (HPHT SP), the owner of port assets in Hong Kong and China, declined 2.4 percent to 61 U.S. cents.
Palm-oil producers: Crude palm-oil futures for February delivery declined as much as 1.6 percent in Kuala Lumpur today.
Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer by sales, fell 2.3 percent to 64.5 Singapore cents. Wilmar International Ltd. (WIL SP), the world’s largest processor of the commodity, slipped 1.5 percent to S$5.10.
SMB United Ltd. (SMB SP), a maker of electrical switchgears, gained 3.3 percent to 31.5 Singapore cents. Boer Power Holdings Ltd. (1685 HK), a China-based maker of electricity-distribution equipment, said it will offer 32 Singapore cents a share for SMB stock.