The Straits Times Index lost 0.1% to 2,732.89 as of the 12:30 p.m. trading break. About as many stocks advanced as declined on the 30-member gauge, reported Bloomberg. Stocks on the measure trade at 14.6 times estimated earnings, compared with about 10 times at the start of 2009, according to data compiled by Bloomberg.

Frasers Commercial Trust (FCOT SP) rose 3.3% to 15.5 cents. Hospital operator Parkway Holdings (PWAY SP) gained 1.9% to $2.69 after Macquarie Group Ltd. upgraded the stock to “outperform” from “neutral.” ST Engineering (STE SP) rose 1.3% to $3.21, adding to yesterday’s 2.6% gain. The company said it has won a $87 million contract from the Singapore Armed Forces to train drivers. Budget carrier Tiger Airways Holdings (TGR SP) climbed 1.4% to $1.47.

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