Singapore’s Straits Times Index gained 0.8% to 2,916.42 as of the 12:30 p.m. trading break. Three stocks advanced for each that fell on the 30-member gauge.

Stocks on the measure trade at 15.8 times estimated earnings, compared with about 10 times at the start of 2009, according to data compiled by Bloomberg. The following shares were among the most active in the market.

Bulk carriers: The Baltic Dry Index, which measures the cost of shipping commodities, climbed 4.5% yesterday in London, its first advance since Dec 4. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, gained 2.4% to $1.26. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, rose 2.1% to $13.88.

Palm oil producers: Crude palm oil for March delivery gained 0.7% in Kuala Lumpur today, extending its gains over the last four days to 4.2%. Golden Agri-Resources (GGR SP), the world’s second-biggest palm oil producer, climbed 3.9% to 53.5 cents. Wilmar International (WIL SP), the world’s biggest palm oil trader, added 2.3% to $6.58.

Indofood Agri Resources (IFAR SP), the palm oil unit of Indonesia’s biggest noodle maker, rose 2.1% to $2.45. Credit Suisse Group AG raised its share-price forecast to $2.7 from $2.35 and maintained its “outperform” rating.

Boustead Singapore (BOCS SP), an engineering company, jumped 5.7% to 83.5 cents. The company said it secured contracts worth $68 million from the oil and gas industry.

Healthway Medical Corp. (HMED SP), a provider of outpatient medical services, added 3.1% to 16.5 cents. DMG & Partners Securities Pte initiated coverage of the stock with a “buy” rating and share-price forecast of 28 cents.

MobileOne (M1 SP), Singapore’s smallest mobile phone company, rose 2.1% to $1.93. DBS Group Holdings upgraded the stock to “buy” from “hold” and raised its share-price forecast to $2.15 from $1.95.

Parkway Holdings (PWAY SP), Singapore’s biggest hospital operator, climbed 4.1% to $3.05, set for its highest closing level since May 16, 2008. Citigroup Inc. raised its share-price forecast to $3.40 from $2.85 and maintained its “buy” rating.

SIA Engineering Co. (SIE SP), the aircraft maintenance unit of Singapore Airlines, surged 6.4% to $3.66, set for its highest closing level since July 14, 2008. The stock was rated a “buy” with a share-price forecast of $4.15 in new coverage at BNP Paribas.