The Straits Times Index added 0.3% to 2,806.97 as of 10:00 a.m. local time. Eight stocks rose for every five that fell on the 30-member gauge.

 

Stocks on the measure trade at 17 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. 

 

Palm oil suppliers: Crude palm oil for February delivery rose 0.5% in Kuala Lumpur yesterday.

 

Golden Agri-Resources (GGR SP), the world’s second- biggest palm oil producer, rose 2.1% to 49.5 cents. Indofood Agri Resources (IFAR SP), the palm oil unit of Indonesia’s biggest noodle maker, added 4% to $2.10.

 

Chemoil Energy (CHEME SP), the world’s largest independent supplier of marine fuels, tumbled 13% to 38 cents. A unit of Glencore International AG (1696Z SW) agreed to buy a 50.8% stake in Chemoil Energy for 35.52 cents a share and is offering to buy the rest, according to a regulatory statement.

 

Singapore Airlines (SIA SP), the carrier added 1.2% to $13.92. HSBC Holdings Plc. analyst Mark Webb raised the rating on the shares to “overweight” from “neutral.” Also, Tiger Airways (4661Z SP), a budget carrier partly owned by Singapore Airlines, has begun pre-marketing an initial share sale to institutions and may seek as much as $500 million, the Australian Financial Review reported in its Street Talk column.