Singapore Stocks: Global Logistic, Neptune, ST Engineering
Singapore’s Straits Times Index (FSSTI) added 0.3 percent to 2,968.01 as of 1:14 p.m. local time. More than two shares rose for each that fell in the 30-member gauge.
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
Global Logistic Properties Ltd. (GLP) increased 1 percent to S$2.13 after the owner of warehouses in China and Japan said it signed leases for 68,600 square meters of space in Shanghai and Ningbo, highlighting strong demand from customers in the world’s second-largest economy.
Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, rose 1.1 percent to S$1.41. Shipping lines will increase rates for moving 40-foot cargo boxes by $50 between U.S. and Asia effective May 15, according to a statement from the Westbound Transpacific Stabilization Agreement.
Singapore Technologies Engineering Ltd. (STE) , Asia’s largest aircraft maintenance company, rose 1.3 percent to S$3.13. Its ST Marine unit won a 534.8 million euro ($702 million) contract to build four patrol boats for the Royal Navy of Oman.
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