Singapore’s Straits Times Index dropped 1% to 3,197.85 as of 9:20 a.m. local time, trimming this month’s advance to 0.2%. All but three stocks in the benchmark index of 30 companies fell.
Shares on the measure trade at an average 14.6 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.
Neptune Orient Lines  (NOL SP), Southeast Asia’s biggest container carrier that gets about a quarter of its revenue from the Middle East, slipped 1.3% to $2.21. Egyptian protesters defied a curfew and demonstrated against President Hosni Mubarak for a sixth day, sparking speculation the crisis will slow the global economic recovery.
Singapore Airlines  (SIA SP), the world’s second- biggest carrier by market value, dropped 1.3% to $14.84. The company said third-quarter profit fell 29% to $288.3 million from a year earlier after charges related to antitrust cargo fines. The company was expected to report a net profit of $299 million, according to the average estimate of six analysts surveyed by Bloomberg.
Sri Trang Agro-Industry Pcl  (STA SP), Thailand’s biggest listed rubber producer, was unchanged at $1.20 on its trading debut. The company sold 280 million shares at $1.20 each in its initial share sale in Singapore, raising gross proceeds of $336 million. The share sale was 0.81 times subscribed.