Singapore shares rose on Monday after Cyprus and the
European Union agreed to a plan to resolve the island's
The Straits Times Index was up 0.5 percent at
3,275.13 points, while MSCI's broadest index of Asia Pacific
shares outside Japan gained 1 percent.
Shares of massage chair maker OSIM International
jumped 2.4 percent to S$1.95, the highest since Oct. 2006. About
1.9 million shares were traded, 1.6 times the average full-day
volume over the past 30 days.
DBS Vickers said that OSIM's quarterly results from the
first quarter of 2009 to the fourth quarter of 2012 have shown
that its earnings growth has been sustainable.
"OSIM is a beneficiary of the rising middle class population
in China, with 56 percent of revenues originating from North
Asia," DBS said. "OSIM now creates demand by innovating new
products to target new market segments."
1150 (0350 GMT)
Reporting by Teo Jion Chun; Editing by Anupama Dwivedi