Singapore’s Straits Times Index gained 0.4% to 2,789.92 as of the 12:30 p.m. trading. The measure is heading for 0.6% decline this week. Almost four stocks rose for each that fell on the 30-member gauge.

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.

 

Commodity Stocks: The Reuters/Jefferies CRB Index, which tracks the price of 19 commodities including copper and corn, rose 0.8% in New York yesterday, taking gains in the past four days to 2.5%. Noble Group (NOBL SP), the commodities supplier partly owned by China Investment Corp., rose 0.6% to $1.79. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, advanced 1.2% to $2.55.

 

CapitaLand (CAPL SP), Southeast Asia’s biggest developer, increased 2.3% to $3.62. Its unit CapitaMalls Asia, which owns and operates shopping malls in the region, may sell shares in its Malaysian unit in an initial public offering depending on market conditions. CapitaMalls closed yesterday up 1.5% to $2.10. Trading on the stock has been halted today.

 

CapitaMalls Asia plans to sell 786.5 million shares and will retain as much as a 41.7% stake in the Malaysian trust after the sale, according to a statement to the Singapore exchange today. It did not say how much it hopes to raise from the planned IPO. The shopping mall operator has received the Malaysian regulator’s approval for the offering.

 

CWT (CWT SP), a provider of logistics services, gained 0.6% to 88.5 cents. CIMB Group Holdings upgraded the stock to “outperform” from “neutral.”

 

Hyflux (HYF SP), Singapore’s biggest publicly listed water-treatment company, climbed 5.1% to $2.91. Hyflux was upgraded to “buy” from “hold” at DBS Group Holdings.

 

Neptune Orient Lines (NOL SP), the shipping company that got 57% of sales from the Americas last year, rose 2.2% to $1.90. September imports through major U.S. container ports may grow 15% from a year earlier and 12% in October, traditionally the busiest months of the year, the National Retail Federation said in a statement on its website. Cargo handled in the first half may increase 12% to 6.6 million boxes, it added.

 

Otto Marine (OTML SP), a Singapore-based shipbuilder, climbed 2.5% to 41.5 cents. The company said its Reflect Geophysical Pte unit won a contract valued at US$8 million ($11.3 million)to provide a seismic survey for New Zealand’s Anadarko NZ Taranaki Co. It is the second contract announced by the company this week.