Singapore’s Straits Times Index rose 0.1% to 3,251.94 as of the 12:30 p.m. trading break. Four stocks rose for every three that fell in the benchmark equity index of 30 companies.

Shares on the measure trade at an average 14.9 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. 

 

City Developments (CIT SP), Singapore’s second-largest developer, slipped 0.8% to $12.16. India Infoline cut the stock’s rating to “sell” from “reduce” and lowered its share-price forecast to $10.55 from $13.63.

 

Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, jumped 4.3% to S$2.43, heading for its highest close since August 2008. DBS Group Holdings raised its share-price forecast to $3.03 from $2.76 and maintained its “buy” rating.

 

DBS Group Holdings (DBS SP), Southeast Asia’s biggest lender, increased 1.1% to $14.92. JPMorgan Chase & Co. raised its share-price forecast to $24 from $18 and maintained its “overweight” rating, saying the bank’s earnings will increase this year as net-interest margins improve.

 

Overseas Union Enterprise (OUE SP), a hotel operator, declined 3.9% to $3.44. Credit Suisse Group AG is selling a stake in the company for as much as $116 million, Reuters reported, citing its IFR news service. Credit Suisse is offering to sell the shares at between $3.35 and $3.50 each, the report said.

 

Singapore Exchange (SGX SP), the operator of the city’s derivatives and securities exchange, climbed 2.2% to $8.69. HSBC Holdings Plc increased its rating to “neutral” from “underweight.” The company said it will start using on Aug. 15 a new trading platform that may be the world’s fastest.