Singapore’s Straits Times Index dropped 1.1% to 3,205.48 at the close, the most since Nov. 23. All but one of 30 companies in the benchmark index declined.

Shares on the measure trade at an average 14.6 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.

 

Chinese developers: Shares of real-estate companies with businesses in China declined as a government report showed growth in the world’s fastest-expanding major economy accelerated in the fourth quarter, adding pressure on policy makers to keep raising interest rates.

 

CapitaLand (CAPL SP), Southeast Asia’s biggest developer that gets about 26% of sales from China, slid 1.6% to $3.68. Yanlord Land Group (YLLG SP), which gets all its revenue from China, declined 1.8% to $1.67. Guocoland (GUOL SP), a real-estate company that counts China as its biggest market, lost 0.7% to $2.73.

 

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, gained fell 0.1% in New York yesterday.

 

Noble Group (NOBL SP), a Hong Kong-based commodities supplier, dropped 2.2% to $2.27. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, slipped 1.6% to $3.16.

 

Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, decreased 3.7% to $2.33. The company said it has not received proposals from its Chinese parent Cosco Group under which it would receive a stake in Cosco Shipyard Group and take over all of Cosco Shipbuilding Industry Co.

 

First Resources (FR SP), an Indonesian palm-oil producer, sank 9.9% to $1.45 after controlling shareholder, Eight Capital Inc., sold 75 million shares at $1.48 each.

 

First Ship Lease Trust (FSLT SP), a Singapore-based ship- leasing company, decreased 2.1% to 46.5 cents. The company said fourth-quarter net distributable income tumbled 37% to US$5.7 million ($7.3 million) from a year earlier.

 

Hiap Seng Engineering (HSE SP), a provider of engineering services to the petroleum and petrochemical industries, dropped 2.3% to 64 cents after CIMB Group Holdings cut its rating to “neutral” from “outperform.

 

Longcheer Holdings (LHL SP), a China-based mobile phone designer, slumped 14% to 54.5 cents. DBS Group Holdings lowered its rating to “sell” from “buy” and cut its share-price forecast to 49 cents from $1.11, saying the company may incur a net loss this year on declining sales and profit margins.

 

M1 (M1 SP), Singapore’s smallest mobile-phone company, fell 1.6% to $2.46. CIMB Group Holdings. Blowered its rating on the stock to “neutral” from “outperform.”

 

Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier that gets more than half of its revenue from the Americas, declined 3% to $2.26. A government report showed builders began work on fewer homes than projected in December, a sign the industry that triggered the recession continued to struggle more than a year into the U.S. economic recovery.

 

PEC (PEC SP), a provider of engineering services to the oil and gas and pharmaceutical industries, dropped 3.7% to $1.32. CIMB lowered its rating to “neutral” from “outperform.” Phillip Securities also cut its recommendation to “hold” from “buy.”