Singapore’s Straits Times Index slipped 0.2% to 3,235.32 as of the 12:30 p.m. trading break. Three stocks fell for every two that rose in the benchmark equity index of 30 companies.

Shares on the measure trade at an average 14.8 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market. 

 

CapitaCommercial Trust (CCT SP), the office landlord partly owned by CapitaLand (CAPL SP), slipped 1.3% to $1.48. JPMorgan Chase & Co. lowered its rating on the stock to “underweight” from “neutral.”

 

CapitaMalls Asia (CMA SP), the owner of shopping malls in Singapore, Japan, China, India and Malaysia, rose 0.5% to $1.89. The stock had its rating raised to “outperform” from “neutral” at Macquarie Group. The brokerage raised its share-price forecast to $2.24 from S$2.19.

 

Hyflux (HYF SP), Singapore’s biggest publicly traded water utility company, climbed 2.1% to $2.39. The company said it won three contracts in China, valued at US$45 million ($58.2 million).

Overseas Union Enterprise (OUE SP), a Singapore-based hotel operator, gained 1.7% to $3.50. The company said it has established a $1 billion  multi-currency medium-term note program.

 

Straits Asia Resources (SAR SP), the owner of coal mines in Indonesia, surged 7.6% to $2.84, heading for its highest close since July 16, 2008. The company said it has received a permit from the Indonesian government that allows it to boost production capacity at its Sebuku mine. Goldman Sachs Group Inc. raised its rating on the stock to “neutral” from “sell.”