Singapore’s Straits Times Index fell 0.4% to 3,083.13 at the close. Three stocks dropped for each that rose on the 30-member gauge.

Shares on the measure trade at an average 15.1 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.

The following shares were among the most active in the market. Stock symbols are in parentheses after company names.

Developers: Singapore’s home prices are set to fall “a little” after the government last month introduced fresh measures to cool the real-estate market, the local press quoted Liew Mun Leong, chief executive officer of CapitaLand, as saying.

Allgreen Properties (AG SP), controlled by Malaysian billionaire Robert Kuok, declined 1.7% to $1.14. City Developments (CIT SP), Singapore’s second-largest homebuilder, fell 0.8% to $11.90. Wingtai Holdings (WINGT SP) slipped 1.1% to $1.74.

CapitaCommercial Trust (CCT SP), the office landlord partly owned by CapitaLand (CAPL SP), jumped 5.7% to $1.48, its highest since June 2008. Credit Suisse Group AG increased its rating on the stock to “outperform” from “neutral” and raised its share-price estimate to $1.63 from $1.37.

DBS Group Holdings (DBS SP), Southeast Asia’s biggest lender, rose 1% to $13.96. The company said it plans to spend $250 million over the next five years to expand its treasury and markets business in the region with a focus on China and India.

Fragrance Group (FRAG SP), the operator of budget hotels in Singapore, surged 31% to 70.5 cents. The company said it will give 840 million new shares to its shareholders in a proposed a one-for-one bonus issue.

Hiap Seng Engineering (HSE SP), a provider of engineering services to the petroleum and petrochemical industries, jumped 15% to 74.5 cents. Responding to Singapore exchange’s query, the company said it was not aware of any reason for the stock’s rally. DBS Group Holdings reiterated its “buy” rating on the stock, saying order momentum is picking up.

Osim International (OSIM SP), Asia’s biggest maker of massage chairs outside of Japan, advanced 3% to $1.02. DMG Securities & Partners Pte. initiated coverage of the stock with a “buy” rating and a share-price forecast of $1.32.

Technics Oil & Gas (TGH SP), the provider of engineering services to the oil and gas industry, rose 1.7% to 91 cents. The company said it won a $35 million contract in Vietnam.