Singapore’s Straits Times Index gained 0.3% to 2,991.54 as of the 12:30 p.m. trading break. Four stocks rose for each that fell on the 30-member gauge.

Shares on the measure trade at an average 14.6 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. 

 

Baker Technology (BTL SP), a supplier of equipment to the oil and gas industry, climbed 2.3% to 44.5 cents. The company said it agreed to cut the selling price for its PPL Holdings Pte unit to US$116.3 million ($157 million) from US$155 million.

 

China Minzhong Food Corp. (MINZ SP), a China-based vegetable supplier, rose 0.8% to $1.30. CIMB Group Holdings Bhd. initiated coverage of the stock with an “outperform” rating and a share-price forecast of $1.52.

 

Ezra Holdings (EZRA SP), a provider of offshore logistics services to the oil and gas industry, gained 1.2% to $1.70. UOB-Kay Hian Holdings maintained its “buy” rating and cut its share-price forecast to $2.17 from $2.50, saying the funds the company will raise by selling shares will help reduce debt.

 

Neptune Orient Lines (NOL SP), the container carrier that gets more than half of revenue from the Americas, increased 1% to $1.96. Manufacturing data from the U.S.-based Institute for Supply Management rose to a three-month high of 56.3 in July. Readings greater than 50 signal growth, and the figure was projected to drop to 52.8, according to the median forecast of economists in a Bloomberg News survey.

 

Noble Group (NOBL SP), a Hong Kong-based commodities supplier, advanced 2.5% to $1.65. The Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, rose 1.6% in New York yesterday.