Singapore’s Straits Times Index was little changed at 2,929.60 as of 10:00 a.m. local time. The measure is heading for a 1.1% advance for the quarter. Seven stocks dropped for every six shares that rose on the 30- member gauge.

Shares on the measure trade at 15.3 times estimated earnings, compared with 17.5% at the beginning of the year, according to Bloomberg data. The following shares were among the most active in the market.

 

Palm oil suppliers: Golden Agri-Resources (GGR SP) and Indofood Agri Resources (IFAR SP) were rated new “buys” by Citigroup Inc, saying the companies will benefit from rising crude palm oil prices.

 

Golden Agri, the world’s second-biggest palm-oil supplier, rose 2.7% to 56.5 cents, the biggest advance on the benchmark index. Indofood Agri, the palm-plantation unit of Indonesia’s biggest noodle maker, increased 2.3% to $2.27.

 

Shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, dropped 2.5% in London yesterday, taking its 10-day losses to 15.5%.

 

Cosco Corp. Singapore (COS SP), the China-based shipbuilder that also operates bulk carriers, sank 1.6% to $1.23. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, dropped 1.7% to 28.5 Singapore cents.

Manufacturing Integration Technology (MIT SP), a supplier of automated equipment for the semiconductor industry, climbed 3% to 17 cents. The company said it won $12.7 million worth of new orders.

 

Neptune Orient Lines  (NOL SP), Southeast Asia’s biggest container carrier, increased 1.6% to S$1.96. The company said average freight rates rose 8% in the four weeks ended March 5, compared with the year earlier. Neptune Orient said it carried 37% more cargo during the period.

 

Singapore Airlines (SIA SP), the world’s second- biggest carrier by market value, advanced 1.6% to $15.64. The company will raise ticket prices by between $50 and $100 from April 1, the Straits Times reported, without citing anyone.