Singapore’s Straits Times Index gained 1 percent to 3,123.67 as of the 12:30 p.m. trading break. Six stocks rose for each that fell on the 30-member gauge.
Shares on the measure trade at an average 15.3 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.
The following shares were among the most active in the market. Stock symbols are in parentheses after company names.
China Dairy Group Ltd. (CDG SP), a maker of milk products, lost 3.3 percent to 14.5 Singapore cents. The company said it expects to post net losses in the third quarter and for 2010, citing rising prices of raw materials and increased competition in China’s milk industry.
China XLX Fertiliser Ltd. (CXLX SP), a maker of urea and methanol, climbed 3.5 percent to 60 Singapore cents. The company said it plans to invest 3 billion yuan ($448 million) to build a fourth plant and expand production capacity.
DBS Group Holdings Ltd. (DBS SP), Southeast Asia’s biggest lender, rose 1 percent to S$14.22. The company said it will invest S$200 million ($151.3 million) to build an information technology hub in Singapore that will support its banking operations in Asia.
Hor Kew Corp. (HKC SP), a construction company and developer, gained 5.9 percent to 9 Singapore cents. The company said it won a public housing contract, valued at S$156 million, from the Singapore government.
Genting Singapore Plc (GENS SP), one of two casino resort operators in the city-state, advanced 2 percent to S$2.05. Deutsche Bank AG raised its share-price forecast to S$2.60 from S$1.93 and maintained its “buy” recommendation.
Jardine Cycle & Carriage Ltd. (JCNC SP), the automotive distributor that gets 89 percent of sales from Indonesia, rose 2.2 percent to S$38.90. Goldman Sachs Group Inc. increased its share-price forecast to S$40 from S$38 and maintained its “neutral” rating.
Jardine Matheson Holdings Ltd. (JM SP), which owns car distributors, real estate, supermarkets and hotels in Asia, climbed 1.3 percent to $45.98. CLSA Asia Pacific Markets raised its share-price forecast to $52 from $45.85 and maintained its “outperform” rating.
Jardine Strategic Holdings Ltd. (JS SP), the owner of half of Jardine Matheson, advanced 2.4 percent to $27.22. CLSA increased its share-price forecast to $30 from $26.37 and maintained its “outperform” rating.
Yangzijiang Shipbuilding Holdings Ltd. (YZJ SP), a China- based shipbuilder, rose 1.1 percent to S$1.80. Credit Suisse Group AG raised its share-price forecast to S$2.20 from S$1.90 and maintained its “outperform” rating.
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