Singapore shares rose on Friday, with trading volume dominated
by small-cap stocks such as HanKore Environment Tech Group Ltd
and Cordlife Group Ltd, but gains may be
capped as investors await the U.S. jobs data.
The Straits Times Index was up 0.6 percent at
3,165.82, in line with the rise in MSCI's broadest index of
Asia-Pacific shares outside Japan, after two of
Europe's most important central banks assured investors they
were in no hurry to wind down stimulus.
Singapore Exchange Ltd led gains on the index,
rising around 2 percent. Transport operator ComfortDelGro Corp
Ltd and Thai Beverage Pcl advanced 1.6
Hankore shares jumped as much as 9.3 percent to S$0.047, the
highest since March 27, on hopes that it could monetise some of
its water treatment assets, traders said.
The company said in May that it was in preliminary talks
with third parties about "the potential restructuring of the
company's water treatment assets", though it warned that there
was no certainty if it would lead to a definitive agreement.
Hankore was the third-highest traded stock by volume in the
Singapore market, with nearly 95 million shares changing hands,
9.3 times the average full-day volume over the past 30 days.
Shares of Cordlife, which provides cord blood banking
services, jumped as much as 7.5 percent with 13.2 million shares
traded, 1.2 times the average full-day volume over the past 30
Maybank Kim Eng said in a report today that Cordlife had an
"overwhelming" 72 percent market share in Singapore and the
entry of a new competitor, a joint venture between AsiaMedic Ltd
and Cryoviva International, was not a threat to the
Cordlife is also keenly looking for opportunities to expand
into countries nearby, possibly as early as this financial year,
Maybank said. The broker maintained its "buy" rating and S$1.29