Bloomberg News

Singapore Stocks: CapitaLand, Global Logistic, Noble Group

December 01, 2011

Dec. 1 (Bloomberg) -- Singapore’s Straits Times Index climbed 2.5 percent to 2,769.12 as of 9:22 a.m., poised for its biggest advance since Oct. 27. All 30 companies in the benchmark gauge rose.

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

China developers: Homebuilders in China advanced after the central bank cut the amount of cash that banks must set aside as reserves, the first reduction since 2008, as Europe’s debt crisis dims the outlook for exports and growth.

CapitaLand Ltd. (CAPL SP), a developer that gets about 21 percent of sales from China, climbed 4 percent to S$2.62. Yandlord Land Group Ltd. (YLLG SP), a China-based real estate company, increased 4.9 percent to S$1.07.

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities ranging from copper to corn, rose 1.1 percent in New York yesterday, extending its advance for a third day.

Noble Group Ltd. (NOBL SP), a Hong Kong-based commodities supplier, jumped 5.7 percent to S$1.205. Olam International Ltd. (OLAM SP), a Singapore-based trader of agricultural commodities, rose 3.9 percent to S$2.38.

Global Logistic Properties Ltd. (GLP SP), the owner of warehouses in Japan and China, gained 2.5 percent to S$1.865. The company said it priced its S$500 million issue of perpetual bonds at 5.5 percent.

Osim International Ltd. (OSIM SP), the biggest maker of massage chairs in Asia outside of Japan, advanced 2.5 percent to S$1.025. The company said it established two wholly owned subsidiaries in China to expand operations in the world’s second-largest economy.

--Editor: Jim McDonald

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net


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