Singapore Stocks: Golden Agri, Olam, SBS Transit, Wing Tai
Singapore’s Straits Times Index climbed 3.3 percent to 2,885.26 at the close, the biggest advance since July 2009. All but two stocks in the index of 30 companies advanced.
The gauge slumped 9.5 percent this month, the steepest monthly decline since October 2008 when credit markets froze following the collapse of Lehman Brothers Holdings Inc.
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 (CRY), which tracks prices of 19 commodities from copper to corn, increased 1.1 percent in New York yesterday, extending its advance for a fourth day.
Noble Group Ltd. (NOBL),, a Hong Kong-based supplier of energy, food and mining commodities, rose 5.9 percent to S$1.62. Olam International Ltd. (OLAM) , a supplier of agricultural commodities, jumped 11 percent to S$2.59, the most since June 2009. The company said fourth-quarter net income increased 38 percent from a year earlier to S$127.4 million ($105.9 million).
Palm-oil producers: Crude palm-oil futures for November delivery rose as much as 1.7 percent in Kuala Lumpur today, heading for its first increase in four days.
Golden Agri-Resources Ltd. (GGR) , the world’s second-biggest palm-oil producer by sales, climbed 3.9 percent to 66 Singapore cents. Indofood Agri Resources Ltd. (IFAR) , the plantation unit of Indonesia’s No. 1 noodle maker, gained 3.7 percent to S$1.41. Wilmar International Ltd. (WIL) , the world’s biggest palm-oil processor, increased 2.3 percent to S$5.30.
SBS Transit Ltd. (SBUS) , Singapore’s biggest operator of public buses, climbed 4.6 percent to S$1.83. The government awarded the company a 19-year license to operate the Downtown Line, its second commuter train service. Its parent ComforDelgro Corp. rose 2.2 percent to S$1.375.
Sim Lian Group Ltd. (SLG) , a property developer and construction company, advanced 7 percent to 53.5 Singapore cents. The company said full-year net income doubled to S$200 million from a year earlier.
Wing Tai Holdings Ltd. (WINGT) , a developer of high-end residential properties in Singapore, surged 8.4 percent to S$1.36. The company said fourth-quarter net income more than doubled to S$170.6.
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