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Singapore’s Straits Times Index fell 0.5% to 2,983.40 as of the 12:30 p.m. trading break. The gauge is heading for a 0.3% advance this week and a 5.2% gain for the month. Two stocks fell for each that rose on the 30-member gauge.
Shares on the measure trade at 14.5 times estimated earnings, compared with about 17.5 times at the beginning of the year, according to Bloomberg data.
Shares on the measure trade at 14.5 times estimated earnings, compared with about 17.5 times at the beginning of the year, according to Bloomberg data.
The following shares were among the most active in the market.
Commodity suppliers: Noble Group (NOBL SP), a Hong Kong-based supplier of commodities from oil to sugar, dropped 2.3% to $1.68. Wilmar International (WIL SP), which agreed this month to buy CSR Ltd.’s Sucrogen sugar unit, fell 0.5% to $6.27. Bunge, the world’s second-largest sugar trader, reduced its full-year earnings forecast after soybean-processing margins shrank in the U.S. and South America.
Dairy Farm International Holdings (DFI SP), Hong Kong’s second-biggest retailer, gained 1.7% to US$7.65. The company said first-half profit rose 17% to US$182 million ($248 million) from a year earlier.
Hongkong Land Holdings (HKL SP), one of the biggest business-district landlords in the Chinese city, rose 0.4% to US$5.38. The company said underlying profit rose 70% in the first half as two residential projects in Singapore were completed. Profit excluding revaluation losses or gains climbed to US$477 million in the six months to June 30 from US$281 million, it said.
Mandarin Oriental International (MAND SP), the operator of luxury hotels from Tokyo to San Francisco, slipped 0.7% to US$1.43. The company said first-half profit fell to $13.5 million from US$74.2 million a year earlier. Exceptional gains boosted earnings the previous year, it said.
MCL Land (MCL SP), the Singapore homebuilder partly owned by Hongkong Land, climbed 1.6% to $1.89. The company said second-quarter profit increased to US$114.2 million from US$36.7 million a year earlier.
OKP Holdings (OKP SP), the Singapore-based roadbuilder, increased 1% to 48.5 cents. The company said second-quarter profit climbed 18% to $4.3 million.
