Singtel supports STI in weak market

FOUR stocks stood out in Monday's trading - Singtel, Noble Group, United Engineers (UE) and Neptune Orient Lines (NOL).

Singtel's S$0.08 rise to S$4.28 came with 28.7 million shares traded and was likely because of "buy" reports after its recent results. But for different reasons, the other three suffered from heavy selling, thus livening up what might otherwise have been a drab session - commodities counter Noble because of heavy selling after the release of a research report that questioned certain accounting practices, property firm UE because of takeover disappointment, and shipping company NOL after it released its latest set of results.

Business done in the four stocks added a total of S$280 million to the day's turnover, the latter amounting to 927.3 million units worth S$1.02 billion. Of this, volume in Si…