Categorized | Singapore Trading News

Singapore Stocks Updates: Ezion Holdings, Hi-P, Keppel Corp., Wilmar

Singapore’s Straits Times Index dropped 0.5 percent to 3,005.28 at the close, the lowest since March 22. Almost six stocks fell for each that rose in the benchmark index of 30 companies. The gauge sank 2.4 percent this week.

Shares on the measure trade at an average 13.8 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg.

The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.

Oil-rig builders: Keppel Corp. (KEP SP), the world’s biggest supplier of oil platforms, slid 1.9 percent to S$10.44. Smaller rival Sembcorp Marine Ltd. (SMM SP) lost 0.6 percent to S$5.21.

Crude oil futures dropped to the lowest in four months in New York on concern the Greek debt crisis will threaten Europe’s economic recovery, curbing fuel demand.

Ezion Holdings Ltd. (EZI SP), a provider of marine logistics and support services, climbed 1.6 percent to 65.5 Singapore cents. DMG Partners Securities Pte reiterated its “buy” rating on the stock, saying a $73 million contract won by the company’s joint venture with Treatmil Holdings Ltd., a European offshore services company, will boost earnings next year.

Hi-P International Ltd. (HIP SP), a contract manufacturer whose clients include BlackBerry-maker Research in Motion Ltd., dropped 1 percent to S$1 after Canada-based RIM said quarterly revenue may drop for the first time in nine years.

Wilmar International Ltd. (WIL SP), the Singapore-based agribusiness company, climbed 2.1 percent to S$5.44. Amyris Inc., a U.S. biotechnology company, said it will collaborate with Wilmar to develop surfactants, compounds that are used in consumer and industrial products, as part of plans to expand into Asia.

Adapted from Bloomberg & Hearst.

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