Singapore’s Straits Times Index fell 0.2% to 3,197.88 as of the 12:30 p.m. trading break, heading for a 1.5% decline this week. Two stocks declined for each that rose 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. 

 

Oil-rig builders: Shares of the world’s biggest builders of oil exploration rigs fell as crude oil futures headed for their third weekly decline in a month. China’s inflation data fanned speculation the world’s biggest energy consumer will take steps to cool its economy and U.S. crude supplies unexpectedly rose.

 

Keppel Corp. (KEP SP) declined 1.6% to $11.32. Sembcorp Marine (SMM SP) lost 0.2% to $5.27.

 

Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, decreased 1.4% to 73 cents. Daiwa Securities Group Inc. cut its recommendation on the stocks to “outperform” from “buy.”

 

Mapletree Logistics Trust (MLT SP), a Singapore-based industrial landlord, rose 1% to 99 cents. The company said it will distribute $36.8 million of its fourth-quarter income, compared with $31.8 million a year ago.

 

Singapore Technologies Engineering (STE SP), Asia’s biggest aircraft repair company, climbed 0.6% to $3.31. The company said its aerospace division won maintenance orders worth $320 million in the fourth quarter.

 

Tiger Airways Holdings (TGR SP), the budget carrier backed by Singapore Airlines (SIA SP), lost 0.6% to $1.78. Macquarie Group cut its rating to “underperform” from “neutral” and lowered its share-price forecast to $1.50 from 1.80.