Singapore’s Straits Times Index rose
1.9 percent to 2,694.43 at the close, the biggest advance since Oct. 28. Just two shares 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 names.
Developers: Shares of homebuilders advanced after a report showed the NUS Singapore Residential Property Index rose 0.9 percent in October from the previous month. City Developments Ltd. (CIT SP), Singapore’s second-biggest real estate company, climbed 5.8 percent to S$9.65. Keppel Land Ltd. (KPLD SP) gained
2.9 percent to S$2.48.
CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest developer, rose 4.1 percent to S$2.53. The company is considering placing its seven Raffles City shopping mall projects in China into a real-estate investment trust, the Straits Times reported, citing Chief Operating Officer Lim Ming Yan.
Export-related stocks: Shares of exporters, shipping companies and port operators advanced after a report showed U.S. retail sales during Thanksgiving weekend climbed 16 percent to a record as shoppers flocked to stores earlier and spent more.
Amtek Engineering Ltd. (AMTK SP), a supplier of precision components to companies including Sony Corp., gained 1 percent to 49 Singapore cents. Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container line rose, climbed 4 percent to S$1.045. Hutchison Port Holdings Trust (HPHT SP), the owner of port assets in Hong Kong and China, added 1.7 percent to 59 U.S. cents.
HG Metal Manufacturing Ltd. (HGM SP), a steelmaker, jumped 9 percent to 8.5 Singapore cents. The company said it had fourth-quarter net income of S$1.5 million, compared with a loss of S$10.4 million a year earlier.
Sembcorp Industries Ltd. (SCI SP), the industrial conglomerate that gets about 46 percent of revenue from utilities, increased 3 percent to S$4.13. The company is proposing to build a 1,200-megawatt coal-fired power plant in Vietnam, the Dau Tu newspaper reported, without saying where it got the information.