Singapore’s Straits Times Index climbed 0.4% to 2,930.54 as of 9:15 a.m. local time. Four stocks rose for each that fell on the 30-member gauge.

Shares on the measure trade at an average 14.2 times estimated earnings, compared with about 17.4 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 of commodity- shipping rates rose 1.7% in London yesterday, taking its 10-day advance to 31%.

 

Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, gained 1.3% to $1.57. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, rose 0.7% to $14.62.

 

Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier, increased 1% to $1.95. A.P. Moeller-Maersk A/S, the owner of the world’s largest container- shipping line, raised its full-year earnings forecast after increases in freight rates and global trade helped the company restore first-half profit.

 

Tiger Airways Holdings (TGR SP), the budget carrier partly owned by Singapore Airlines (SIA SP), dropped 1.5% to $1.95 after shareholders sold the stock at a discount. The company said its shareholders Indigo Singapore Partners LP, Ryanasia and its president and CEO Tony Davis sold 65.8 million shares at $1.90 a share.