Singapore’s Straits Times Index rose 0.8% to 3,230.96 as of the 12:30 p.m. trading break, heading for its higher close since May 16, 2008. Four stocks rose for each that fell in the benchmark equity index of 30 companies.

Shares on the measure trade at an average 15.7 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 producers: Crude palm oil for January delivery gained as much as 0.5% in Kuala Lumpur today.

 

Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, climbed 2.9% to 71 Singapore cents, set for its highest close since July 11, 2008. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, rose 2.6% to $2.72. Wilmar International (WIL SP), the world’s largest palm-oil trader, advanced 1.4% to $6.69.

 

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, rose 1.1% in New York yesterday, extending its four-day advance to 1.9%.

 

Noble Group (NOBL SP), a Hong Kong-based commodities supplier, climbed 2.6% to $2. Olam International (OLAM SP), one of the world’s three biggest suppliers of cotton, jumped 2.7% to $3.26.

 

Elec & Eltek International Co. (ELEC SP), a maker of printed circuit boards, gained 1.3% to US$3.04. The company said third-quarter net income increased 52% to US$21.7 million ($28 million) from a year earlier.

 

Oversea-Chinese Banking Corp. (OCBC SP), the lender that owns Singapore’s biggest life insurer, rose 0.5% to $9.35. Its Bank of Singapore unit expects profit will rise 20% next year as Europe’s richest investors shift funds to Asia and as affluence in the region increases, Renato de Guzman, chief executive officer of the unit, said yesterday.

 

SIA Engineering Co. (SIE SP), the aircraft maintenance unit of Singapore Airlines (SIA SP), gained 2.3% to $4.52. The company said second-quarter net income increased to $66.5 million from $61.1 million a year earlier.

 

Tiger Airways Holdings (TGR SP), the budget carrier partly-owned by Singapore Airlines, increased 2.7% to $1.93. The company said it had second-quarter profit of $14.1 million compared with a loss of $2.3 million a year earlier.