Singapore’s Straits Times Index gained 0.6% to 2,930.19 as of 9:53 a.m. local time. The measure was set for a 1.7% advance this week. Three stocks rose for each that fell on the 30-member gauge.

Shares on the measure trade at 15.3 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. 

 

Shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, dropped 0.9% yesterday in London, taking losses in the past three days to 5%.

 

Cosco Corp. Singapore (COS SP), the China-based shipbuilder that also operates bulk carriers, fell 0.8% to $1.26. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, dropped 1.7% to 28.5 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, sank 1.7% to $15.50.

 

CapitaCommercial Trust (CCT SP), the office landlord partly owned by CapitaLand (CAPL SP), gained 0.9% to $1.10. OCBC Investment Research upgraded the stock to “buy” from “hold.” CapitaLand increased 0.3% to $4.07.

 

Genting Singapore Plc (GENS SP), owner of the first casino resort in the city state, rose 0.5% to 94.5 cents. The performance of the casino at Singapore’s Resorts World Sentosa is “on track” and may exceed the company’s expectations,” the Business Times reported, citing Genting Group Chairman Lim Kok Thay. The company yesterday opened the resort’s Universal Studios theme park to the public.

 

Noble Group (NOBL SP), the commodity supplier backed by China Investment Corp., gained 0.6% to $3.42. The company said it has awarded Polimex-Mostostal SA a contract to begin expansion of the oil storage facilities at its Botlek terminal in the Netherlands.

 

SembCorp Marine (SMM SP), the world’s second-biggest builder of oil rigs, climbed 0.5% to $4.04. The company said its SMOE unit won a $550 million contract to build an accommodation platform for ConocoPhillips in the North Sea.