Singapore’s Straits Times Index climbed 1.8% to 2,777.49 as of 9:56 a.m. local time. All 30 stocks on the gauge advanced.

Shares on the measure trade at 13.7 times estimated earnings, compared with about 17.5 times at the beginning of the year, according to Bloomberg data. The following shares were among the most active in the market. 

 

China developers: Singapore-based homebuilders have maintained their sales in China even amid tightening policies that may cool the nation’s real-estate market for the rest of the year, the Business Times reported.

 

CapitaLand (CAPL SP) sold more than 200 homes in China in April and May and will offer three new projects in the second half, the report cited an unidentified spokesman as saying. An unnamed spokesman also told the newspaper that Keppel Land (KPLD SP) sold more than 900 homes during April and May and hasn’t made any changes to its schedule for new offerings. CapitaLand, which got 26% of sales in China last year, rose 1.4% to $3.56. Keppel Land gained 4.9% to $3.63.

 

Cosco Corp. Singapore (COS SP), a China-based shipbuilder, climbed 3.8% to $1.38. The company said its Cosco (Dalian) Shipyard Co. unit won two contracts worth US$100 million ($140 million) to convert two tankers into floating production storage and offloading vessels.

 

Eng Kong Holdings (ENGK SP), a provider of logistics services to container shipping companies, surged 35% to 29 cents, the biggest advance since it listed on December 1989. NEK Container Group offered to buy the company for 29.5 cents a share. The deal values the company at $77.8 million, according to Bloomberg estimates.

 

GMG Global (GGL SP), the Singapore-based owner of rubber plantations in West Africa, increased 5.6% to 19 cents. Royal Bank of Scotland Group Plc initiated coverage of the stock with a “buy” rating and a 12-month share-price forecast of 27 cents.

 

Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier, gained 2.7% to $1.88. HSBC Holdings Plc upgraded the stock “neutral” from “underweight.”

 

Singapore Exchange (SGX SP), the operator of the city’s securities and derivatives exchange, rose 2.4% to $7.28. The company said derivatives trading volume climbed 40% to 6 million contracts in May from a year earlier.

 

Straits Asia Resources (SAR SP), owner of Indonesian coal mines, increased 3.8% to $1.92. OCBC Investment Research raised the stock to “hold” from “sell,” saying it expects earnings to recover in the second half.