Singapore’s Straits Times Index gained 0.4% to 2,768.81 as of the 12:30 p.m. trading break. Almost three stocks advanced for each that declined on the 30-member gauge.

 

Stocks on the measure trade at 14.7 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 0.4% in London on Feb. 19, extending a four-day rally to 5.8%. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, rose 2.4% $1.30. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, gained 2.9% to $14.20.

 

Commodity suppliers: The Reuters/Jefferies CRB Index, which measures prices of 19 commodities such as corn and copper, rose 0.6% in New York on Feb. 19, taking gains in the past two days to 1.5%. Noble Group (NOBL SP), a Hong Kong- based commodity supplier, advanced 2.4% to $3.03. Olam International (OLAM SP), an agricultural commodity supplier, gained 2% to $2.52.

 

Developers: The government said it will impose a levy on homes sold within a year of purchase to discourage short-term speculation in the market. The city-state is also lowering the loan-to-value limit to 80% from 90% for all housing loans provided by financial institutions.

 

CapitaLand (CAPL SP), Southeast Asia’s biggest developer, declined 3.3% to $3.77. City Developments (CIT SP), the island-nation’s second-biggest developer, dropped 5.6% to $10.22. Keppel Land (KPLD SP), the developer part-owned by Keppel Corp. (KEP SP), slipped 1.8% to $3.31.

 

Genting Singapore Plc. (GENS SP), the owner of Singapore’s first casino, climbed 3.7% to 97.5 cents, snapping its four-day, 13% decline. OSK Asia Securities upgraded the stock to “buy” from “trading buy.” The company said its net loss doubled to $277.6 million last year from $124.8 million in 2008 as gambling revenue in London declined and staff costs increased.

 

Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier, climbed 3% to $1.71. The company said its APL unit will raise rates on intra-Asian routes from March 1.