Singapore’s Straits Times Index added 0.8% to 2,753.11 as of the 12:30 p.m. trading break. Four stocks gained for each that fell on the 30-member gauge. Shares on the measure trade at 16.9 times estimated earnings, compared with about 10 times at the start of the year, according to data compiled by Bloomberg. The following shares were among the most active in the market.

Banks: The Monetary Authority of Singapore said it does not expect developments in Dubai to adversely affect the island nation’s financial stability because lending by local banks to the United Arab Emirates is less than one% of total assets. The announcement last week that Dubai World was struggling with $59 billion in liabilities hit stock markets around the world. The company said yesterday it is in talks with banks to restructure US$26 billion ($36 million) of debt.

Oversea-Chinese Banking Corp. (OCBC SP), the smallest of the three Singapore banks, gained 1.1% to $8.47. United Overseas Bank (UOB SP), the city-state’s second-biggest bank, advanced 1.8% to $19.18. DBS Group Holdings (DBS SP), Southeast Asia’s biggest lender, was little changed at $14.34. The company said yesterday $558 million of its loans to Dubai World Finance are affected by a standstill notice and that its total lending to Dubai is $1.8 billion.

City Developments (CIT SP), Singapore’s second-biggest property developer, added 0.4% to $10.04. The company said it is open to the possibility of raising its stake in the South Beach property development in the city-state, in which Dubai World also has a stake, the local press reported.

Singapore Airlines (SIA SP), the world’s second- biggest carrier by market value, added 1.5% to $13.50 Global international air travel rose 0.5% in October from a year earlier, the International Air Transport Association said yesterday.

Yongnam Holdings (YNH SP), the Singapore-based construction company, climbed 2.1% to 24.5 cents. The company said it won a $21.5 million contract from Marina Bay Sands, the Las Vegas Sands Corp. unit building one of two casino resorts in the island nation.