Singapore’s Straits Times Index fell 0.3% to 2,838.33 as of 9:15 a.m. local time. Three stocks dropped for each that rose on the 30-member gauge.

Shares on the measure trade at 14 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. 

 

Shipping companies: The Baltic Dry Index, which measures the cost of transporting commodities, fell 0.6% in London yesterday, taking its 20-day loss to 41%.

 

Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, fell 0.7% to $1.49. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, slid 1.8% to 27.5 cents.

 

DBS Group Holdings (DBS SP), Southeast Asia’s biggest lender, lost 0.9% to $13.64. The bank has set up a $10 billion debt issuance program.

 

Firstlink Investments Co. (FIC SP), the owner of hotels and electronics maker, climbed 7.1% to 7.5 cents. The company said agreed to buy Tai-Ao Aluminum Group, a China-based manufacturer of aluminum products, for $150 million. The company will issue 1.36 billion shares to the owners of Tai-Ao Aluminum at 11 Singapore cents each as payment for the acquisition.

 

Keppel Corp. (KEP SP), the world’s biggest oil-rig builder, rose 0.4% to $8.70. The company said its units in Singapore and the Philippines won contracts, valued at $50 million, for the construction of two barges and upgrading of a drillship.

 

Rotol Singapore (RTL SP), a supplier of aluminum products used in buildings, slumped 20% to 2 cents. The Singapore Exchange has rejected its request for an extension to comply with the bourse’s listing requirements, the company said. Trading of the company’s shares will be suspended from June 30, it said.

 

Yangzijiang Shipbuilding (Holdings) (YZJ SP), a China- based shipbuilder, gained 1.5% to $1.34. The company said it has submitted an application to list despositary receipts on the Taiwan Stock Exchange.