Singapore’s Straits Times Index gained 0.6% to 3,199.83 as of the 12:30 p.m. trading break. Almost four stocks rose for each that fell in the benchmark equity index of 30 companies.

Shares on the measure trade at an average 15.6 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 the company name.

Boustead Singapore (BOCS SP), a provider of engineering services, dropped 1.8% to $1.10. DBS Group Holdings cut its recommendation on the stock to “hold” from “buy.” The brokerage also lowered its share-price forecast to $1 from $1.10.

Capitaland (CAPL SP), Southeast Asia’s biggest developer, gained 0.8% to $3.69. The company plans to introduce an average of 3,000 residential units in China annually as part of its growth strategy in the country, the Singapore-based company said in investor briefing materials filed to the Singapore stock exchange. It said it also plans to expand the number of serviced residences in the country to 12,000 units by 2015 from 6,246 currently.

Cosco Corp. Singapore (COS SP), a China-based shipbuilder, increased 1.5% to $2.09. The company won contracts valued at more than $110 million to build three bulk carriers. Deliveries are scheduled for September 2012 and January 2013, it said.

Noble Group (NOBL SP), a Hong Kong-based commodities Supplier, rose 1% to $2.10. The company said it received $2.54 billion of revolving loan facilities from creditors.

Osim International (OSIM SP), Asia’s biggest maker of massage chairs outside of Japan, surged 4.8% to $1.54. The company said it is seeking to list Taiwan depositary receipts.

Singapore Airlines (SIA SP), the world’s second- biggest carrier, increased 0.9% to $15.98. The company said it will raise the fuel surcharge for tickets issued starting today by between $3 and $25 per sector because of the increase in jet fuel prices in recent months.

United Engineers (UEM SP), an engineering company and property developer, advanced 3.1% to $2.68. The company said it plans to raise US$72.3 million ($55 million) selling shares in its engineering and construction business, which will be listed separately on the Singapore stock exchange.

STI +0.6% at 3199.83 midday, with gainers beating decliners 2.4 to 1; volume picks up to 955 million shares vs 620 million at midday yesterday, as sharp gains in global, regional bourses, fueled by good news on US employment picture, encourage investors to step back into market.

UOB KayHian says investors can start initiating small positions on STI, expects near-term advancement within recent trendlines, with index well above 3,118 support; sets minor resistance at 3,206.50.

Blue chips mostly faring well, among FTSE series, only oil & gas, utilities, catalist indexes lower; news-driven stocks in focus include: United Engineers (U04.SG) +3.1% at $2.68 on potential gain from proposed EPC unit spin off; Cosco (F83.SG) +1.5% at $2.09 on US$110 million ($144 million) boost to orderbook; Osim (O23.SG) +4.8% at $1.54 on TDR listing proposal; Wilmar (F34.SG) off 0.2% at $6.04 underperforming on China price-control measures concerns.