Singapore’s Straits Times Index was little changed at 3,180.45 as of the 12:30 p.m. trading break. Five stocks dropped for every four that rose in the benchmark equity index of 30 companies.

 

Shares on the measure trade at an average 15.5 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. 

Developers: Shares of real estate companies dropped after Channel NewsAsia quoted Minister for National Development Mah Bow Tan as saying recent measures to cool the property market are working and that the full impact of the policies will be felt in the next two months.

 

City Developments (CIT SP), Singapore’s second-biggest developer, slipped 0.5% to $12.38. UOL Group (UOL SP), Singapore’s fourth-biggest developer by market value, declined 0.4% to $4.65. Wing Tai Holdings (WINGT SP), Singapore’s eighth-biggest developer, dropped 0.6% to $1.74.

 

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, rose 0.4% in New York yesterday, extending its four-day rally to 5.3%.

 

Noble Group (NOBL SP), a Hong Kong-based commodities supplier, gained 0.5% to $2.09. Olam International (OLAM SP), an agricultural commodities supplier, rose 0.6% to $3.19.

 

Mapletree Industrial Trust (MINT SP), the industrial landlord controlled by Temasek Holdings, gained 0.9% to $1.07. DBS Group Holdings initiated coverage of the stock with a share-price forecast of $1.16.