Singapore’s Straits Times Index climbed 0.4% to 3,205.28 at the close, its highest close since May 16, 2008. Two stocks rose for each that fell in the benchmark equity index of 30 companies.

Shares on the measure trade at an average 15.6 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. 

 

Palm-oil suppliers: Crude palm oil for January delivery rose 0.1% in Kuala Lumpur after climbing as much as 0.5%. Futures advanced 1% yesterday.

 

First Resources (FR SP), an Indonesian palm-oil producer, rose 0.8% to $1.30. Golden Agri-Resources (GGR SP), the world’s second-biggest palm-oil producer, climbed 1.5% 69 cents. Wilmar International (WIL SP), the world’s largest palm-oil trader, advanced 2.2% to $6.60.

China Aviation Oil (Singapore) Corp. (CAO SP), China’s biggest supplier of jet fuel, rose 0.7% to $1.56. The company said the Singapore government has granted it a lower concessionary tax rate of 5% for five years from August this year.

 

Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, gained 0.5% to $1.89. The company said it won contracts valued at US$87 million ($112.2 million) to build three bulk carriers for a shipping company in Asia that it didn’t identify.

 

Oversea-Chinese Banking Corp. (OCBC SP), the lender that owns Singapore’s biggest life insurer, increased 0.9% to $9.30. CIMB Group Holdings  raised its share-price forecast to $11.04 from $10.08, while Credit Suisse Group AG increased its share-price estimate to $11.60 from $10.80. Both brokerages maintained their “outperform” rating.

 

Oversea-Chinese’s Bank of Singapore unit plans to hire 30 to 40 private wealth managers, Renato de Guzman, the division’s chief executive officer, told reporters today.