Singapore Stocks: Golden Agri, Noble, Swiber, Venture Corp.
Singapore’s Straits Times Index dropped 1.3 percent to 2,684.70 as of 1:08 p.m. local time, heading for a 3.8 percent decline this week. Six stocks fell for each that rose in the index of 30 companies.
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, fell 4.4 percent in New York yesterday, extending its decline for a second day.
Noble Group Ltd. (NOBL) , a Hong Kong-based supplier of energy, food and mining commodities, dropped 3.3 percent to S$1.455. Olam International Ltd. (OLAM) , a Singapore-based supplier of agricultural commodities, declined 3.3 percent to S$2.37.
Palm-oil producers: Crude palm-oil futures for December delivery dropped as much as 1.6 percent in Kuala Lumpur today, heading for its third day of decline.
Golden Agri-Resources Ltd. (GGR) , the world’s second- biggest palm-oil producer by sales, sank 3.7 percent to 65 Singapore cents. Wilmar International Ltd. (WIL) , the world’s largest palm-oil processor, slipped 2.1 percent to S$5.05.
Swiber Holdings Ltd. (SWIB) , a provider of offshore logistic services, climbed 4 percent to 52.5 Singapore cents. The company said it won a contract, valued at $155 million, for the construction of a pipeline in South Asia.
Venture Corp. (VMS SP), a provider of electronics manufacturing services, slid 1.5 percent to S$7.09. Citigroup Inc. cut its share-price forecast to S$8 from S$9.30, saying it a recovery in sales in the second-half will likely be muted due to macroeconomic headwinds. The brokerage maintained its “buy” rating on the stock.
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