Singapore’s Straits Times Index gained 0.3% to 2,923.77 as of the 12:30 p.m. trading break. The measure was set for a 1.5% advance this week. Almost three stocks rose for every two shares that fell on the 30-member gauge.

 

Shares on the measure trade at 15.2 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 1.6% to $1.25. 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 1.4% to $15.54.

 

CapitaCommercial Trust (CCT SP), an office landlord partly owned by CapitaLand (CAPL SP), increased 1.8% to $1.11. OCBC Investment Research upgraded the stock to “buy” from “hold.”

 

Jardine Strategic Holdings (JS SP), which owns real estate, supermarkets and drugstores in Asia as well as running hotels worldwide, climbed 1.3% to US$20.26. ($28.27) It is set for its highest closing level on record. The stock looks attractive as it trades at a significant discount to its estimated book value of US$32 a share, according to Anil Daswani, a Hong Kong- based analyst at Citigroup Inc. Jardine Matheson Holdings (JM SP), which owns 80% of Jardine Strategic, advanced 2.2% to US$34.22.

 

Noble Group (NOBL SP), a commodity supplier backed by China Investment Corp., gained 0.9% to $3.43. The company said it has awarded Polimex-Mostostal SA a contract to begin expanding oil storage facilities at its Botlek terminal in the Netherlands.

 

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