Singapore’s Straits Times Index gained 1.3% to 2,794.06 at the close. Thirteen stocks rose for each that fell on the 30-member gauge. The market was shut in the past two days for the Lunar New Year holiday.

Stocks on the measure trade at 14.8 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, gained 1.3% in London yesterday, snapping losses of 5.7% in the past five days. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, climbed 4% to $1.30. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, rose 0.4% to $14.38.

 

Commodity suppliers: The Reuters/Jefferies CRB Index, which tracks 19 commodities including corn and copper climbed 2.6% in New York yesterday, its biggest gain since Nov. 16. Noble Group (NOBL SP), a Hong Kong-based commodities supplier, advanced 3% to $3.06. Olam International  (OLAM SP), a supplier of agricultural commodities, increased 2.4% to $2.60. Indofood Agri Resources (IFAR SP), the palm oil unit of Indonesia’s biggest noodle maker, jumped 4.4% to $2.13.

 

Developers: Singapore’s private home sales rose in January for the first time in six months. The number of transactions climbed to 1,476 from 481 units in December, according to data from the Urban Redevelopment Authority’s Web site. CapitaLand (CAPL SP), Southeast Asia’s biggest developer, gained 1.8% to $4.00. Keppel Land (KPLD SP), partly owned by the world’s biggest builder of oil rigs, increased 2.7% to $3.48. City Developments (CIT SP), the island-nation’s second-biggest developer, rose 0.7% to $10.98.

 

Palm oil suppliers: Crude palm oil for April delivery rose as much as 2% in Kuala Lumpur today. Golden Agri-Resources (GGR SP), the world’s second-biggest palm oil producer, climbed 3.7% to 56 cents. Wilmar International (WIL SP), the world’s biggest palm oil trader, gained 1.9% to $6.40.

 

Standard Chartered Plc initiated coverage of Golden Agri and Indofood Agri with an “outperform” rating, saying recent declines among palm oil producers provides an “excellent buying opportunity” given the positive outlook for prices of the commodity.

 

Ascendas Real Estate Investment Trust (AREIT SP), an industrial landlord, rose 1.1% to $1.92. The company said it plans to buy three properties in Singapore for $228.5 million.

 

SIA Engineering (SIE SP), the aircraft maintenance unit of Singapore Airlines (SIA SP), gained 2.3% to $3.54. HSBC Holdings Plc upgraded the stock to “overweight” from “neutral,” saying it expects the company’s net profit to increase 19% in the year ending March 31, 2011.

 

Singapore Telecommunications (ST SP), the island nation’s biggest phone company, slipped 0.7% to $3. UBS AG downgraded the stock to “neutral” from “buy.”

 

Tat Hong Holdings (TAT SP), a crane leasing company, dropped 2.6% to 93.5 cents. OCBC Investment Research cut its share-price forecast to $1.02 from $1.12 and maintained its “hold” rating, saying earnings may decline due to project delays in Australia.