Singapore Stocks: Frasers Commercial, Golden Agri, Keppel Corp.
Singapore’s Straits Times Index (FSSTI) slipped 0.5 percent to 2,994.48 at the close, paring gains this week to 0.2 percent. Two shares fell for each that rose on the 30-member gauge.
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
Palm-oil producers: Crude palm-oil futures for July delivery dropped as much as 1 percent in Kuala Lumpur today.
Golden Agri-Resources Ltd. (GGR) , the world’s second- biggest palm oil producer by sales, decreased 1.3 percent to 75 Singapore cents. Wilmar International Ltd. (WIL) , the world’s biggest palm oil processor, slid 0.6 percent to S$4.86.
Frasers Commercial Trust (FCOT) gained 1.1 percent to 88.5 Singapore cents after the office landlord reported second- quarter distributable income increased 11 percent from a year earlier to S$11.2 million ($9 million).
Keppel Corp. (KEP SP), the world’s largest oil-rig maker, dropped 1.4 percent to S$11.39, its first decline in three days, after its offshore engineering unit reported profit margins dropped to 15 percent in the first quarter from 21 percent a year earlier as it worked on lower-priced orders.
“Lower-than-expected offshore and marine margins in the next one to two quarters could be a negative share price driver,” Nancy Wei, an analyst at UOB-Kay Hian Holdings Ltd. in Singapore, said in a note today.
To contact the reporter on this story: Jonathan Burgos in Singapore at email@example.com
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org