Singapore’s Straits Times Index gained 0.5% to 2,990.21 as of the 12:30 p.m. trading break. Two stocks advanced for each that fell on the 30-member gauge.

Shares on the measure trade at 15.1 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: Crude palm oil for June delivery rose 0.6% in Kuala Lumpur today, paring declines in the past three days to 0.9%. Indofood Agri Resources (IFAR SP), the palm-plantation unit of Indonesia’s biggest noodle maker, climbed 2.5% to $2.43. Wilmar International (WIL SP), the world’s biggest palm-oil trader, increased 1.3% to $6.99.

 

C&O Pharmaceutical Technology Holdings (COPT SP), the China-based drugmaker, gained 2.4% to 42 cents. DMG & Partners Securities Pte raised its share-price forecast to 50 cents from 36 cents and maintained its “buy” rating.

 

Cosco Corp. Singapore (COS SP), a China-based shipbuilder, climbed 5.9% to $1.43, set for its highest closing level since June 12, 2009. DBS Group Holdings upgraded the stock to “buy” from “fully valued,” saying shipbuilding orders will increase.

 

Noble Group (NOBL SP), the Hong Kong-based commodity supplier seeking to merge its Gloucester Coal. with Macarthur Coal, rose 1.6% to S$3.26 after Macarthur Coal rejected a revised A$3.6 billion ($4.6 billion) takeover bid from Peabody Energy Corp. A successful merger between Gloucester Coal and Marcarthur Coal “will mean upgrades to Noble’s earnings,” CLSA Asia Pacific Markets analyst Thilan Wickramasinghe wrote in a note to clients today. CLSA rates Noble a “buy” with a share-price forecast of $4.07.

 

SMRT Corp. (MRT SP), Singapore’s biggest commuter-train operator, climbed 2.9% to $2.15. OCBC Investment Research raised its share-price forecast to $2.22 from $2.05 and maintained its “buy” rating, saying the opening of additional stations on the new circle line this month will boost train patronage.

 

Unionmet Singapore (UMS SP), a producer of indium ingots used in the manufacture of flat panel displays and solar energy batteries, advanced 11% to 5 cents. The company said it had a net profit of US$460,000 in the first quarter ended February, compared with a net loss of US$3 million a year earlier.

 

Yongnam Holdings (YNH SP), a Singapore-based construction company, increased 3.5% to 29.5 cents. The company said it won a $20.2 million contract to provide engineering works for Ssangyong Engineering and Construction Co., which is building a new highway in Singapore.