Singapore’s Straits Times Index gained 0.8% to 2,942.12 as of the 12:30 p.m. trading break. Five stocks rose for each that fell on the 30-member gauge. Shares on the measure trade at an average 14.3 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. 

Developers: Shares of property developers rose after Singapore’s three-month interbank loan rate for US dollars fell to 0.35% from 0.358 yesterday, extending its decline to a 23rd day, the longest stretch since January 2008. Falling interest rates and rising wages should support demand for property, according to Brandon Lee, analyst at DMG & Partners Securities Pte. CapitaLand (CAPL SP), Southeast Asia’s biggest developer, increased 2.3% to $4.03. City Developments (CIT SP), Singapore’s second-largest homebuilder, advanced 2.2% to $11.88. Keppel Land (KPLD SP), the property unit of the world’s major builder of oil rigs, gained 1.3% to $3.90.

Palmoil suppliers: Crude palm oil for November delivery dropped as much as 1.7% in Kuala Lumpur today, extending its decline to a fourth day. Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, dipped 0.9% to 57 cents. Wilmar International (WIL SP), the world’s largest palm-oil trader, slipped 0.6% to $6.19.

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 1.9% to $1.58. 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 largest container carrier, increased 1.6% to $1.96. A.P. Moeller-Maersk A/S, the owner of the world’s biggest container- shipping line, raised its full-year earnings forecast after increases in freight rates and global trade helped the company restore first-half profit.

SMRT Corp. (MRT SP), Singapore’s major commuter train operator, fell 0.5% to $2.05. The Royal Bank of Scotland Group Plc cut the stock to “sell” from “hold”.

Tiger Airways Holdings (TGR SP), the budget carrier partly owned by Singapore Airlines (SIA SP), dropped 3% to $1.92 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.