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Singapore Stocks: Sembcorp Industries Ltd., Sinobest Technology

July 6 (Bloomberg) -- Singapore’s Straits Times Index fell for a second day, closing 0.5 percent lower at 3,114.71. Sixteen stocks sank and 11 rose in the gauge of 30 companies.

The measure trades at 14.3 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. Stock symbols are in parentheses after the company name.

Sembcorp Industries Ltd. (SCI SP) gained 0.2 percent to S$5.04. The operator of water-treatment plants said its utilities division signed three agreements to expand its water business in China.

Sinobest Technology Holdings Ltd. (SBT SP) advanced 6 Singapore cents to S$0.19. The supplier of building automation systems said it agreed to buy OKH Holdings Pte for about S$108 million ($87.9 million) through the issue of 900 million shares.

To contact the reporter on this story: Lynn Thomasson in Hong Kong at lthomasson@bloomberg.net.

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

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