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