Singapore’s Straits Times Index was little changed at 2,929.20 as of the 12:30 p.m. trading break. The measure is heading for a 1.1% advance for the quarter. The same number of stocks dropped as those 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. Wilmar International (WIL SP) was upgraded to “buy” from “hold” at Deutsche Bank AG.

 

Golden Agri, the world’s second-biggest palm-oil supplier, rose 1.8% to 56 cents, the second-biggest advance on the benchmark index. Indofood Agri, the palm- plantation unit of Indonesia’s biggest noodle maker, increased 1.8% to $2.26. Wilmar, the world’s biggest palm-oil trader climbed 1.6% to $6.81.

 

Genting Singapore Plc. (GENS SP), owner the first casino resort in the city-state, slipped 1.1% to 91 cents. Citigroup Inc. maintained its “sell” rating on the stock and reduced its share-price forecast to 70 cents from 76 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 US$12.7 million ($17.7 million) worth of new orders.

 

Neptune Orient Lines (NOL SP), Southeast Asia’s largest container carrier, increased 2.6% to $1.98, the biggest gain on the benchmark index. 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.