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Singapore Stocks: Hongkong Land, Keppel Corp., Neptune Orient

Jan. 4 (Bloomberg) -- Singapore’s Straits Times Index gained 0.8 percent to 2,711.02 at the close. Six stocks advanced for each that fell in the 30-member gauge.

The following were among the most active shares in the market. Stock symbols are in parentheses after the company names.

Hongkong Land Holdings Ltd. (HKL SP), one of the biggest office landlords in the Chinese territory, rose 2.3 percent to $4.83. UBS AG raised its rating to “neutral” from “sell,” citing the stock’s discount to net asset value and dividend yield.

Keppel Corp. (KEP SP), a Singapore-based industrial conglomerate that gets about 26 percent of its revenue from utilities, added 0.9 percent to S$9.65. The company said it agreed to buy 49.9 percent of OWEC Tower AS, a Norway-based builder of wind turbine foundations, for 61 million krone ($10.2 million).

Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, added 0.9 percent to S$1.19. Deutsche Bank AG maintained its “buy” rating on the stock, citing rising freight rates in the U.S. amid improving retail sales.

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net

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