Singapore’s Straits Times Index declined 0.5% to 2,856.74 as of the 12:30 p.m. trading break. Three stocks dropped for each that rose on the 30-member gauge.

Shares on the measure trade at 14.1 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.

 

CDL Hospitality Trust (CDREIT SP), the hotel operator partly-owned by City Developments (CIT SP), tumbled 7.4% to $1.75, heading for its biggest decline since Feb. 5, 2009. The company said it raised net proceeds of $196.4 million, selling shares at $1.71 each, the lower-end of the price range for the share placement.

 

China Minzhong Food Corp. (MINZ SP), a China-based vegetable supplier, climbed 6.2% to $1.20. The stock was rated “buy” with a share-price forecast of $1.50 in new coverage at BNP Paribas.

 

Parkway Holdings (PWAY SP), Asia’s biggest hospital operator, slid 1.6% to $3.69. Morgan Stanley told the company’s shareholders Khazanah Nasional Bhd.’s $1.18 billion bid for control of Parkway wasn’t compelling. The brokerage made the comments as adviser to independent directors of Parkway in a circular distributed by the hospital operator today. Fortis Healthcare, which owns 25.4% of Parkway, said June 15 it is “keeping its options open” after Kuala Lumpur-based Khazanah made the offer.

 

United Overseas Bank (UOB SP), Singapore’s second- biggest lender, lost 0.9% to $19.54. The bank may invest at least US$100 million ($138.7 million) in Agricultural Bank of China Ltd.’s initial public offering, the Wall Street Journal reported on its website, citing people familiar with the situation it didn’t identify. Other potential investors are Seven Group Holdings and China National Travel Services Group Corp., the report said.