Singapore Stocks: ComfortDelgro, Golden Agri, Neptune Orient
Singapore’s Straits Times Index declined 1 percent to 3,229.27 at the close, the biggest drop since Nov. 23. Eight stocks fell for each that rose in the benchmark equity index of 30 companies.
Shares on the measure trade at an average 14.7 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.
Palm-oil producers: Crude palm-oil futures for March delivery dropped for a second day in Kuala Lumpur today.
Indofood Agri Resources Ltd. (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, slipped 2.1 percent to S$2.74. Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer sank 3.1 percent to 77.5 Singapore cents. Wilmar International Ltd. (WIL SP), the world’s biggest palm-oil trader, lost 0.2 percent to S$5.69.
Bukit Sembawang Estates Ltd. (BS SP), a Singapore-based property developer, advanced 1.9 percent to S$4.86. CIMB Group Holdings Bhd. raised its recommendation to “outperform” from “underperform.”
ComfortDelGro Corp. (CD SP), the biggest operator of taxis and buses in Singapore, jumped 2.5 percent to S$1.63. BNP Paribas raised its rating on the stock to “buy” from “hold” and increased its share-price estimate to S$1.98 from S$1.63.
Neptune Orient Lines Ltd. (NOL SP), the container carrier that gets more than half of its revenue from the Americas, declined 3 percent to S$2.27. A government report released on Jan. 7 showed U.S. payrolls increased by 103,000, about two- thirds of the median estimate in a Bloomberg survey of economists.
To contact the reporter on this story: Jonathan Burgos in Singapore at firstname.lastname@example.org.
To contact the editor responsible for this story: Nick Gentle at email@example.com.