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Singapore’s Straits Times Index gained 0.5% to 2,998.21 as of 10 a.m. local time. Twenty- six stocks on the 30-member gauge advanced.
Shares on the measure trade at an average 14.6 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to Bloomberg data. The following shares were among the most active in the market.
Shares on the measure trade at an average 14.6 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to Bloomberg data. The following shares were among the most active in the market.
Baker Technology (BTL SP), a supplier of equipment to the oil and gas industry, jumped 3.5% to 45 cents. The company said it has agreed to cut the selling price for its PPL Holdings unit to US$116.3 million ($156.6 million) from $155 million.
China Minzhong Food Corp. (MINZ SP), a China-based vegetable supplier, gained 0.8% to $1.30. CIMB Group Holdings Bhd. initiated coverage of the stock with an “outperform” rating and a share-price forecast of $1.52.
DBS Group Holdings (DBS SP), Southeast Asia’s biggest lender, rose 0.6% to $14.16. Nomura Holdings Inc. upgraded the stock to “buy” from “neutral.”
Ezra Holdings (EZRA SP), a provider of offshore logistics services to the oil and gas industry, gained 1.8% to $1.71. UOB-Kay Hian Holdings maintained its “buy” rating and cut its share-price forecast to $2.17 from S$2.50, saying the funds the company will raise funds selling shares to existing shareholders will help reduce the company’s debts.
Health Management International (HMI SP), a Singapore- listed health-care service provider, climbed 3.9% to 13.5 cents. The company said it plans to raise $6.4 million selling shares to existing shareholders at 7 cents each.