Singapore shares crawl higher as small, mid-caps stocks top trading

SINGAPORE |
Mon Oct 21, 2013 5:58am BST

SINGAPORE Oct 21 (Reuters) – Singapore shares edged up on

Monday, buoyed by the market regulator’s decision to lift

trading restrictions in three small and mid-cap stocks.

Shares of Asiasons Capital Ltd more than doubled

in value, while Blumont Group Ltd and LionGold Corp

Ltd jumped about 90 percent in heavy trading, after

SGX lifted trading restrictions on these stocks and restored

their full access to the equity market.

The benchmark Straits Times Index inched up 0.2

percent to 3,197.50, in line with a 0.2 percent gain in MSCI’s

broadest index of Asia-Pacific shares outside Japan

.

The FT ST Small Cap Index has risen more than 3

percent so far this year, while the FT ST Fledgling Index

, which covers companies with smaller market

capitalisations, jumped nearly 20 percent. Both outran the

benchmark index’s 0.9 percent rise year-to-date.

“We believe that small mid caps will continue to attract

investors interest with its superior growth,” DBS said in a

research report.

DBS’s picks include Nam Cheong Ltd, Goodpack Ltd

, Centurion Corp Ltd and Yoma Strategic

Holdings.

DBS also recommended Ezion Holdings Ltd, Kreuz

Holdings Ltd and Rex International Holding Ltd

in the oil and gas space, as well as palm oil stocks

Bumitama Agri Ltd and Indofood Agri Resources Ltd

.

Singapore shares crawl higher as small, mid-caps stocks top trading