Singapore Stocks: Contel, KSH, Noble Group, ST Engineering
Singapore’s Straits Times Index gained 0.8 percent to 2,871.87 as of 10:08 a.m. local time. Four stocks rose for each that fell 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 names.
Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities ranging from copper to corn, rose 0.3 percent in New York yesterday, extending gains for a fourth day.
Noble Group Ltd. (NOBL) , a Hong Kong-based commodities supplier, gained 1 percent to S$1.58. Olam International Ltd. (OLAM) , a Singapore-based trader of agricultural commodities, added 0.8 percent to S$2.54.
Contel Corp. (CTEL SP), a maker of DVD players and home theater systems, dropped 3.6 percent to 26.5 Singapore cents. The company said it expects to post a first-half loss due to rising raw-material and labor costs.
KSH Holdings Ltd. (KSHH) added 2.3 percent to 22 Singapore cents after the construction company said second- quarter net income rose 24 percent from a year earlier to S$5.2 million ($4 million).
Singapore Technologies Engineering Ltd. (STE) , Asia’s biggest aircraft maintenance company, gained 0.7 percent to S$2.87. The company said third-quarter net income rose 3 percent from a year earlier to S$133.8 million.
To contact the reporter on this story: Jonathan Burgos in Singapore at firstname.lastname@example.org.