Singapore’s Straits Times Index slipped 0.2 percent to 3,020.35 of 12:03 p.m. local time, with three stocks falling for each that rose on the 30-member gauge.
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
Golden Ocean Group Ltd. (GOGL SP) rose 6.1 percent to S$1.14 after the Bermuda-based shipping company said it’s selling its stake in Kightsbridge Tankers Ltd.
Hongkong Land Holdings Ltd. (HKL SP), a developer that gets 70 percent of its revenue from Hong Kong, Macau and China, slipped 0.5 percent to S$5.75. The stock slid as mainland property stocks extended declines after Chinese Premier Wen Jiabao said the country’s home prices are far from reasonable, denting hopes real-estate curbs will be eased.
Interra Resources Ltd. (ITRR SP), a petroleum exploration company, gained 4.8 percent to 32.5 Singapore cents. The company said it started drilling a development well in Myanmar. Costs are comparatively low and the results of the drilling will likely be ready in about four weeks, the company said.
Swiber Holdings Ltd. (SWIB SP), a provider of engineering services, fell 5.7 percent to 66.5 Singapore cents after the company said it plans to raise S$62.5 million ($49 million) by selling 101.1 million shares at 63.5 Singapore cents each.