Singapore’s Straits Times Index rose 0.3 percent to 3,008.21, the highest close since April 3. About three shares gained for every two that fell on the 30-member gauge.
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
FJ Benjamin Holdings Ltd. (FJB SP), a distributor and retailer of Guess Inc. and Gap Inc. products, fell 1.5 percent to 34 Singapore cents after Angie Chong, chief executive officer of FJ Benjamin’s Malaysian operations resigned.
Fragrance Group Ltd. (FRAG SP) jumped 5.6 percent to 47 Singapore cents after the owner of budget hotels said it will sell 450 million shares of unit Global Premium Hotels at 26 Singapore cents each in an initial share sale.
Hongkong Land Holdings Ltd. (HKL SP) dropped 1.1 percent to $6.23 after UBS AG maintained its sell rating. The stock’s 33 percent rebound in the past three months is not justified as office rents in Hong Kong’s Central will remain weak, analyst Alex Choi wrote in a note to clients today.
Keppel Land Ltd. (KPLD SP) advanced 1.8 percent to S$3.40 after the real estate unit of Keppel Corp. (KEP S) said first-quarter net income rose 70 percent from a year earlier to S$141.9 million ($113.4 million) as it recognized profits from the sale of apartments at a completed project.