Singapore’s Straits Times Index gained 1% to 3,123.67 as of the 12:30 p.m. trading break. Six stocks rose for each that fell on the 30-member gauge.

Shares on the measure trade at an average 15.3 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. 

 

China Dairy Group (CDG SP), a maker of milk products, lost 3.3% to 14.5 cents. The company said it expects to post net losses in the third quarter and for 2010, citing rising prices of raw materials and increased competition in China’s milk industry.

 

China XLX Fertiliser (CXLX SP), a maker of urea and methanol, climbed 3.5% to 60 cents. The company said it plans to invest 3 billion yuan ($592 million) to build a fourth plant and expand production capacity.

 

DBS Group Holdings (DBS SP), Southeast Asia’s biggest lender, rose 1% to $14.22. The company said it will invest $200 million  to build an information technology hub in Singapore that will support its banking operations in Asia.

 

Hor Kew Corp. (HKC SP), a construction company and developer, gained 5.9% to 9 cents. The company said it won a public housing contract, valued at $156 million, from the Singapore government.

 

Genting Singapore Plc (GENS SP), one of two casino resort operators in the city-state, advanced 2% to $2.05. Deutsche Bank AG raised its share-price forecast to $2.60 from $1.93 and maintained its “buy” recommendation.

 

Jardine Cycle & Carriage (JCNC SP), the automotive distributor that gets 89% of sales from Indonesia, rose 2.2% to $38.90. Goldman Sachs Group Inc. increased its share-price forecast to $40 from $38 and maintained its “neutral” rating.

 

Jardine Matheson Holdings (JM SP), which owns car distributors, real estate, supermarkets and hotels in Asia, climbed 1.3% to US$45.98. CLSA Asia Pacific Markets raised its share-price forecast to US$52 from US$45.85 and maintained its “outperform” rating.

 

Jardine Strategic Holdings (JS SP), the owner of half of Jardine Matheson, advanced 2.4% to US$27.22. CLSA increased its share-price forecast to US$30 from US$26.37 and maintained its “outperform” rating.

 

Yangzijiang Shipbuilding Holdings (YZJ SP), a China- based shipbuilder, rose 1.1% to $1.80. Credit Suisse Group AG raised its share-price forecast to $2.20 from $1.90 and maintained its “outperform” rating.