Singapore’s Straits Times Index rose 0.4% to 3,212.18 as of 9:10 a.m. local time. Twenty-three stocks gained and two 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. Stock symbols are in parentheses after the company name.

Palm-oil suppliers: Crude palm-oil futures for February delivery rose 0.4% in Kuala Lumpur yesterday, extending its four-day rally to 6.9%.

Golden Agri-Resources (GGR SP), the world’s second-biggest palm-oil producer, climbed 0.7% to 75.5 cents. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, increased 1.4% to $2.89.

Wilmar International (WIL SP), the world’s biggest palm-oil trader, gained 0.7% to $6.04. The company said it agreed to pay 378.1 million ringgit ($157.1 million) for a 20% stake in FFM Bhd., operator of flour mills in Malaysian, Vietnam, Thailand and Indonesia.

Fraser & Neave (FNN SP), a beverage maker and property developer, rose 0.5% to $6.40. Kim Eng Holdings raised had its rating on the stock to “buy” from “hold”.

Keppel Corp. (KEP SP), the world’s biggest oil-rig builder, advanced 1.5% to $10.98. The company said it signed a contract to build jack-up rigs, valued at US$360 million ($471 million), for Asia Offshore Drilling.

Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, climbed 2% to $3.13. The company said it will form a joint venture with the Lababidi Group to set up a sugar refinery, valued at US$200 million ($261.5 million), in Nigeria. Olam said it will have an 80% stake in the venture.