Index Falls; Shipyard Issues Rise
May 10, 2011
The Straits Times Industrials Index lost 11.57 to 2159.88. Among other closely watched indexes, the DBS-50 Index of stocks from different sectors edged up 1.85 to 556.12. The UOB-OTC index, which tracks Malaysian over-the-counter shares, shed 2.96 to 1176.15. Shipyard stocks outperformed the overall market thanks to a bullish forecast for the ship-repair sector after Keppel Corp. opened up a new dry dock Tuesday. Managing director Loh Wing Siew said the sector will recover next year if the current improvement in freight rates is sustained. Jurong Shipyard rose 40 Singapore cents to 6.45 Singapore dollars, shipyard and industrial conglomerate Sembawang gained 30 cents to S$6.75, and Okeefe lost 10 cents to S$10.60.
VastPress 2011 Vastopolis
