Singapore’s Straits Times Index dropped 0.8% to 2,847.18 as of the 12:30 p.m. trading break. Four stocks fell for each that rose on the 31-member gauge.

Shares on the measure trade at 14 times estimated earnings, compared with about 17.4 times at the end of 2009, according to Bloomberg data. The following shares were among the most active in the market. 

 

China-related companies: Shares of companies with substantial business interest in China declined after a leading economic index compiled by the New York-based Conference Board rose 0.3% in April, less than the 1.7% gain that it reported on June 15. The research group said in an e-mailed statement today that the previous release contained a “calculation error.”

 

CapitaLand (CAPL SP), the Singapore-based developer that got 26% of sales from China last year, slipped 1.3% to $3.69. Yanlord Land Group (YLLG SP), a China- based developer, dipped 1.7% to $1.78. Yangzijiang Shipbuilding Holdings (YZJ SP), a China-based shipbuilder, declined 1.5% to $1.35.

 

Palm-oil suppliers: Crude palm oil for September delivery dropped as much as 0.8% in Kuala Lumpur today as crude oil and soybeans declined, reducing demand for the tropical commodity used in food and biofuels. Golden Agri-Resources (GGR SP), the world’s second-biggest palm-oil producer, slipped 0.9% to 52.5 cents. Wilmar International (WIL SP), the world’s biggest palm-oil trader, declined 1.9% to $5.81.

 

Design Studio Furniture Manufacturer (DSFM SP), an interior design and architectural company, surged 13% to 55.5 cents after Depa, the interiors contractor fitting out the world’s tallest tower in Dubai, said its unit made a conditional cash offer for the shares it doesn’t already own in the Singapore-based company. Depa Interiors LLC offered 55 cents a share for Design Studio, valuing the company at about $140.4 million, Depa said.

 

Kingsmen Creatives (KMEN SP), the designer of exhibits at museums and conferences, increased 1.7% to 60 cents. OCBC Investment Research initiated coverage of the stock with a “buy” rating and share-price forecast of 84 cents.

 

Popular Holdings (POP SP), the bookstore chain operator, climbed 3.2% to 16 cents. The company said it had fourth-quarter net income of $8.6 million, compared with a loss of $32.8 million a year earlier.

 

Sembcorp Industries (SCI SP), the Singapore conglomerate that got about 36% of revenue from utilities last year, gained 0.7% to $4.14. Sembcorp Utilities said it signed a memorandum of understanding with the Abu Dhabi Water and Electricity Authority in the United Arab Emirates to develop and build a desalination facility. Separately, the company won a contract to provide wastewater treatment services to a facility of Germany’s Lanxess AG in the city-state.

 

Stamford Tyres Corp. (STC SP), a retailer and distributor of tires, advanced 14% to 25 cents. The company said it had full-year net income of $9.4 million, compared with S$1 million the previous year.