Singapore’s Straits Times Index gained 0.8% to 2,790.29 at the close. The measure advanced 1.4% this week. Almost five stocks rose for each that fell on the 30-member gauge.

 

Shares on the measure trade at 14.7 times estimated earnings, compared with about 17.5 times at the start of 2010, 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, surged 7.2% yesterday in London, the biggest advance since July 15.

 

Cosco Corp. Singapore (COS SP), the China-based shipbuilder that also operates bulk carriers, gained 4.3% to $1.21. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, surged 6.1% to $15.30.

 

Dairy Farm International Holdings (DFI SP), the operator of supermarkets, drugstores and convenience shops throughout Asia, rose 0.7% to US$6.21. The company said 2009 profit rose 9% to US$364 million ($510 million) from the previous year as it opened new stores and consumers spent more on beauty and healthcare products.

 

Fraser & Neave (FNN SP), the property developer and maker of Tiger beer, climbed 2.1% to $4.44. Its Frasers Centrepoint unit and partner Lum Chang Building Contractors Pte submitted the top bid for a Singapore residential site, the Straits Times reported.

 

Genting Singapore Plc (GENS SP), owner of the first casino resort in the city state, surged 7.1% to 90.5 cents, its biggest advance since Sept. 22, after announcing that the Universal Studios theme park will open to the public on March 18. That’s the steepest rise on the benchmark index.

 

“The opening of Universal Studios will boost visitors to the casino,” said Aaron Fischer, an analyst at CLSA Asia- Pacific Markets in Hong Kong. “It’s a major catalyst. I expect Genting Singapore to be profitable this year.”

 

Mandarin Oriental International (MAND SP), the operator of luxury hotels from Tokyo to San Francisco, advanced 2.9% to US$1.43. The company said full-year net income rose 26% to US$83.3 million from the previous year after it booked an $81 million gain from the sale of a Macau hotel.

 

Tiger Airways Holdings (TGR SP), the budget carrier partly owned by Singapore Airlines, jumped 6.8% to $1.57. Morgan Stanley initiated coverage of the stock, with an “overweight” rating and a 12-month share price forecast of $1.77. Singapore Air, the world’s second-biggest airline by market value, climbed 4.3% to $15.90.