Singapore Stocks: Ascott, Broadway Industrial, Keppel Corp.
Singapore’s Straits Times Index (FSSTI) increased 0.9 percent to 3,166.26 as of 10:10 a.m. local time. All but seven stocks in the gauge of 30 companies advanced. The measure is headed for a 2.6 percent rise this week, the most since March.
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.
Ascott Residence Trust (ART) , a serviced-apartment operator partly owned by CapitaLand Ltd. (CAPL SP), gained 0.8 percent to S$1.20. The company said second-quarter distributable income more than doubled to S$26.3 million ($21.7 million) from S$11.6 million a year earlier.
Broadway Industrial Group Ltd. (BWAY) , a maker of components used in disk drives, declined 2.4 percent to 41 Singapore cents. The company said second-quarter net income slumped 64 percent from a year earlier to S$3.7 million.
Dyna-Mac Holdings Ltd. (DMHL SP), a provider of offshore engineering services, added 1.9 percent to 55 Singapore cents. The company said fourth-quarter net income climbed 29 percent from a year earlier to S$7.6 million.
Keppel Corp. (KEP SP), the world’s biggest maker of oil platforms, climbed 1.9 percent to S$11.02. The company said second-quarter net income rose 9.3 percent from a year earlier to S$384.9 million. That beat the average estimate of S$341.5 million by four analysts compiled by Bloomberg.
Kitchen Culture Holdings Ltd. (KCH SP), a supplier of kitchen appliances, rose 5 percent to 31.5 Singapore cents on its first trading day. The company sold 17 million new shares at 30 Singapore cents each, raising total proceeds of S$5.1 million
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