Singapore shares were slightly lower, but Olam International
Ltd outperformed the market after the commodities
trader said it is raising capital through a bonds-with-warrants
issue that is backed by state investor Temasek Holdings.
The Straits Times Index was down 0.2 percent at
3,059.35, while MSCI's broadest index of Asia-Pacific shares
outside Japan was 0.3 percent lower.
Olam shares jumped as much as 8.6 percent to S$1.71, the
highest in nearly two weeks. But the shares lost some of their
earlier gains and at 0505 GMT were up 3.5 percent.
More than 65 million Olam shares were traded, 2.5 times the
average full-day volume over the past 30 days.
Shares of Geo Energy Resources Ltd surged as much
as 29 percent after the company said it had appointed investor
Jim Rogers, who is known for his bullish views on commodities,
as its non-executive director.
Geo Energy's coal mining operations are mainly located in
Indonesia. It was the second-highest traded stock by volume in
Singapore, with more than 94 million shares traded on Tuesday.
1307 (0507 GMT)