Singapore Stocks: Neptune Orient Lines, Noble, Olam, Wing Tai
Singapore’s Straits Times Index gained 0.4 percent to 3,193.24 as of 9:17 a.m. local time. All but seven stocks in the benchmark index of 30 companies advanced.
Shares on the measure trade at an average 14.6 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.
Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, increased 1.8 percent in New York yesterday, extending its advance for a second day.
Noble Group Ltd. (NOBL SP), a Hong Kong-based commodities supplier, gained 1.4 percent to S$2.21. Olam International Ltd. (OLAM SP), a Singapore-based supplier of agricultural commodities, climbed 1 percent to S$3.07.
CEI Contract Manufacturing Ltd. (CEI SP), a maker of electronics components, climbed 8 percent to 13.5 Singapore cents. The company said full-year net income increased to S$5.2 million ($4 million) from S$2.3 million a year earlier.
Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, gained 1.4 percent to S$2.23. The company said average freight rates in the seven weeks to Dec. 31 climbed 21 percent from a year earlier as it transported 26 percent more cargo.
Wing Tai Holdings Ltd. (WINGT SP), a Singapore-based developer, advanced 1.8 percent to S$1.67. The company said first-half net income increased 23 percent to S$84.1 million from a year earlier.
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