Singapore’s Straits Times Index dropped 0.8% to 2,963.35 as of the 12:30 p.m. trading break. Almost five stocks declined for each that rose on the 30- member gauge.

Shares on the measure trade at 14.9 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.

Kencana Agri (KAGR SP), owner of palm plantations in Indonesia, rose 1.6% to 32 cents. DMG & Partners Securities Pte initiated coverage of the stock with a “buy” rating and a share price forecast of 37.5 cents.

 

Jardine Strategic Holdings (JS SP), which owns real estate, supermarkets and drugstores in Asia and runs hotels worldwide, dropped 2.8% to US$20.70 as it ended a share buyback yesterday. It bought 277,796 shares at $19 a share, paying a total of US$5.28 million ($7.36 million).

 

HTL International (HWA SP), a Singapore-based maker of leather sofas, advanced 5.4% to 88.5 cents. The stock was rated a “buy” in new coverage at DMG & Partners Pte, which has set a share forecast of $1.10.

 

Noble Group (NOBL SP), a Hong Kong-based commodity supplier, lost 0.9% to $3.21. The Reuters/Jefferies CRB Index, which tracks prices of 19 commodities including corn and copper, fell 0.3% in New York yesterday, paring gains in the past four days to 1.6%.

 

STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, sank 2.1% to $16. The Baltic Dry Index, which measures the cost of shipping commodities, fell 1.1% in London yesterday, taking losses in the past three days to 1.7%.