Singapore’s Straits Times Index rose 0.4% to 2,808.18 as of 9:30 a.m. local time. Twenty-two stocks advanced while four stocks fell on the 30-member gauge.

Shares on the measure trade at 13.9 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. 

 

Global Palm Resources Holdings (GPR SP) jumped 4.7% to 33.5 cents. The Indonesian palm oil producer said first-quarter net income increased to 11.1 billion rupiah ($1.68 million), compared with 900 million rupiah a year ago.

 

Singapore Airlines (SIA SP) rose 0.4% to $14.78. The world’s second-biggest airline by market value was raised to “buy” from “neutral” at Nomura Holdings Inc., which increased its share-price forecast to $16.85 from $13.27.

 

Swiber Holdings (SWIB SP), an offshore logistics services provider, gained 1.1% to 95.5 cents. Enzer Corp. (ENZ SP), a distributor of electronics products and components, said it has agreed to buy Samson Oceanic for $6.6 million from Swiber. Enzer jumped 14% to 4 cents.

 

Wing Tai Holdings (WINGT SP) advanced 3.3%% to $1.57. Singapore’s eighth-biggest developer was raised to “outperform” from “neutral” at CIMB-GK Pte.