Singapore’s Straits Times Index climbed 1% to 2,955.67 at the close. Four stocks rose for each that fell on the 30-member gauge.

Shares on the measure trade at 14.4 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, rose 1.1% in London yesterday, taking its four-day advance to 4.8%.

 

Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, surged 6.6% to S$1.61. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, increased 1.9% to $13.72.

 

STX Pan Ocean said it received a 120 billion-won ($136.2 million) contract to transport coal for Korea South-East Power Co. for 10 years.

 

Fraser & Neave (FNN SP), the property developer and brewer, jumped 4.5% to $5.82, its highest close since December 2007. The stock, which posted the biggest advance on the Straits Times Index today, has gained 6.4% since announcing on July 16 the acquisition of Starhub Centre for $380 million from CapitaCommercial Trust. The property may be redeveloped into a mixed-used commercial and residential complex, boosting the company’s earnings, DBS Group Holdings said in a note dated July 19.

 

Hongkong Land Holdings (HKL SP), one of the biggest office landlords in the Chinese city’s central business district, climbed 3.5% to US$5.35.($7.36) Credit Suisse Group AG raised its share-price estimate to US$5.87 from US$5.81 and maintained its “outperform” rating.

 

Keppel Corp. (KEP SP), the world’s biggest builder of oil rigs, gained 1.1% to $8.85. The company said its units Keppel Shipyard and Keppel FELS Brasil SA won two contracts valued at $170 million in Brazil.

 

Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier, increased 2% to $2.02. The company said it ordered 10 ships and signed a letter of intent for another two vessels that will be constructed by South Korea’s Daewoo Shipbuilding & Marine Engineering Co. The total value of the orders is about US$1.2 billion, it said.

 

Wilmar International (WIL SP), the world’s biggest palm oil trader, rose 1.1% to $6.21. The company said a unit agreed to buy 91.38% of Natural Oleochemicals Sdn Bhd. from Kulim (Malaysia) Bhd. for 450 million ringgit ($192.6 million) in cash.