The benchmark Straits Times Index was up 0.5% at 3,141.22 by 12:20 p.m., in line with a 0.4% gain in the MSCI’s broadest index of Asia-Pacific shares outside Japan.
Food and beverage company Thai Beverage Pcl advanced as much as 1.9% to $0.55, while DBS Group Holdings climbed as much as 1.5% to a more than four-month high at $17.30.
Singapore’s biggest bank, DBS, also topped the list of most traded stocks by value on Wednesday with more than 1.9 million shares traded. Brokerage CIMB’s recommended it as its top sector pick in a research note on Tuesday.
Among other stocks, shares of Tiger Airways fell 1% to $0.51. The budget airline confirmed a strategic alliance with Cebu Air and said it would sell its entire 40% stake in Tigerair Philippines to the country's largest budget carrier Cebu Air for US$6 million ($7.6 million).
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