Singapore’s Straits Times Index fell 0.3% to 3,210.43 as of 9:30 a.m. local time. Three stocks declined for each that rose in the benchmark index of 30 companies.

Shares on the measure trade at an average 14.7 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.

China developers: Real estate companies with businesses in the world’s fastest growing major economy dropped after China increased the minimum down payment for second-home purchases and asked local governments to boost land supply, seeking to further limit the risk of asset bubbles in the country.

CapitaLand (CAPL SP), Southeast Asia’s biggest developer that gets about 26% of sales from China, fell 0.8% to $3.66. Yanlord Land Group, a China-based developer slid 1.8% to $1.61.