Blue Chips Lead Market Lower
May 19, 2011
The Straits Times Industrials Index fell 13.64 to 2096.70 on volume of about 77.3 million shares. Decliners led gainers 175 to 89, with 284 issues unchanged. Among other closely watched indexes, the DBS-50 index of shares from different sectors edged down 4.20 to 538.72. The UOB-OTC index, which tracks Malaysian over-the-counter shares, lost 5.50 to 1170.06. Institutional investors were sidelined ahead of the release of U.S. employment data Friday and because of selling in other Asian-Pacific bourses, especially Thailand and Malaysia, analysts said. Foreign shares of Singapore Press Holdings fell 40 Singapore cents to 23.50 Singapore dollars. Electronics group Acma added 14 cents to S$3.36 after some brokerages recommended the stock as a buy based on bullish earnings forecasts for this year. Oil-rig builder and engineering group Far East Levingstone Shipbuilding advanced 35 cents to S$7.35. Banking shares slid. Foreign shares of the Development Bank of Singapore dropped 30 cents to S$16.20. The most-actively traded stock was Super Coffeemix Manufacturing, which reported a leap in first-half net profit to S$5.12 million. The second-tier beverage packager gained 8.5 cents to 89.5 cents.
VastPress 2011 Vastopolis
