Singapore shares rose slightly, led by CapitaMalls Asia Ltd
as the shopping malls owner and developer has
significant exposure to the retail growth in China, the world's
The Straits Times Index was up 0.1 percent at
3,285.49, while MSCI's broadest index of Asia-Pacific shares
outside Japan was little changed.
CapitaMalls shares jumped as much as 4.2 percent to S$2.25,
the highest since Oct. 2010. Nearly 8.3 million shares were
traded, 1.2 times the average full-day volume over the past 30
"CapitaMalls Asia is poised to harvest multi-year gains from
sustained investment in the China consumer growth story, while
earnings will be anchored by recurring income in Singapore,"
Citigroup said in a report.
Citi, which has a 'buy' rating on the stock, raised its
target price to S$2.58 from S$2.08.
Shares of Osim International Ltd jumped after the
massage chair maker reported a 32.5 percent rise in
fourth-quarter net profit to S$22.6 million from a year earlier,
boosted by higher sales and productivity.
Osim shares gained as much as 3.1 percent with 7.1 million
shares traded, 5.9 times the average full-day volume over the
past 30 days.
1319 (0519 GMT)