Singapore shares were slightly higher on Wednesday, with trading volume dominated by small and mid-cap stocks such as Rowsley Ltd and Etika International Holdings Ltd .
The Straits Times Index was up 0.35 percent at 3,179.79, while MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.1 percent higher.
Rowsley, an investment holding company controlled by Singapore billionaire Peter Lim, was the top traded stock by both value and volume in the Singapore market, surging as much as 27 percent with more than 193 million shares changing hands.
Rowsley shares had more than doubled over the last two trading sessions since the company announced a S$581 million ($475.9 million) deal to become a property player in Malaysia’s Iskandar region.
Etika shares jumped as much as 13.6 percent to the highest since September last year after the food and beverage company said Tee Yih Jia Food Manufacturing Pte Ltd agreed to pay a higher subscription price for its shares.
Tee Yih Jia will pay S$0.2132 each, up from S$0.1998 previously, for 75 million Etika shares. 1215 (0415 GMT)