Singapore News Recap: STI increases 1.4% to 3,182.95 at closing

Singapore’s Straits Times Index increased 1.4% to 3,182.95 at the close. All but six stocks in the gauge of 30 companies advanced. The measure climbed 3.2% this week, the most since March.

Shares on the measure trade at an average 14.7 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. 

Developers: Shares of Singapore’s biggest homebuilders rallied after government data showed private residential prices rose by 2% in the second quarter compared with the previous three months.

CapitaLand (CAPL SP), Southeast Asia’s biggest developer, gained 2.4% to $2.95. City Developments (CIT SP), the second-largest homebuilder in Singapore, advanced 4% to $10.93. Keppel Land (KPLD SP), the rest estate unit of Keppel Corp. (KEP SP), increased 4.4% to $3.84.

 

Ascott Residence Trust (ART SP), a serviced-apartment operator partly owned by CapitaLand, gained 1.3% to $1.205. The company said second-quarter distributable income more than doubled to $26.3 million from $11.6 million a year earlier.

 

Broadway Industrial Group (BWAY SP), a maker of components used in disk drives, declined 1.2% to 41.5 cents. The company said second-quarter net income slumped 64% from a year earlier to $3.7 million.  

 

Dyna-Mac Holdings (DMHL SP), a provider of offshore engineering services, advanced 3.7% to 56  cents. The company said fourth-quarter net income climbed 29% from a year earlier to $7.6 million.

 

Keppel Corp. (KEP SP), the world’s biggest maker of oil platforms, climbed 3.1% to $11.16, the biggest advance since March 8. The company said second-quarter net income rose 9.3% from a year earlier to $384.9 million. That beat the average estimate of $341.5 million by four analysts compiled by Bloomberg.

Kitchen Culture Holdings (KCH SP), a supplier of kitchen appliances, surged 10% to 33 cents on its first trading day. The company sold 17 million new shares at 30 cents each, raising total proceeds of $5.1 million.(The Edge Singapore)