Singapore’s Straits Times Index dropped 1.1% to 2,800.63 as of 9:23 a.m. local time. The measure is heading for a 3% decline for the quarter, bringing its loss in the first half to 3.4%. Twenty-eight stocks on the 30-member gauge decreased.

Shares on the measure trade at 13.7 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. 

 

Commodity producers: The Reuters/Jefferies CRB Index, which tracks prices of commodities from copper to corn, dropped 2.8% in New York yesterday, its biggest decline since August 2009. Noble Group (NOBL SP), a Hong Kong-based commodity supplier, fell 1.7% to $1.70. Olam International (OLAM SP), a supplier of agricultural commodities, dropped 1.5 to $2.56.

 

Shipping companies: The Baltic Dry Index, which measures the cost of transporting commodities, slipped 1.4% in London yesterday, taking its 23-day loss to 42%. That’s the gauge’s longest losing streak since August 2008.

 

Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, dropped 1.4% at $1.45. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, slid 1.9% to 26 cents.

 

Biosensors International Group (BIG SP), a maker of drug-coated stents that treat blocked arteries, gained 1.3% to 77 cents. The company said it bought some assets of rival CardioMind Inc. for US$1.1 million ($1.54 million).

 

China Fishery Group (CFG SP), a fishing-fleet operator, climbed 4.4% to $1.91. The company said it will raise $266 million selling shares and warrants to Carlyle Group. The shares will be sold at $1.85 each, while the warrants will have an exercise price of $2.10 each, it said.

 

Singapore Airlines (SIA SP), the world’s second- biggest carrier by market value, slid 1% to $14.30. The company said it will issue $500 million of 3.22%, 10- year notes on or about July 9 to raise money for working capital and expenditure.