Singapore shares rose by midday, with palm oil firm Bumitama Agri jumping as much as 37% on its market debut as many analysts favoured the company's relatively young plantations and forecast a strong outlook for palm oil prices.
The Straits Times Index was 0.7% higher at 2,968.5 after falling 1.2% in the previous session. MSCI's broadest index of Asia Pacific shares outside Japan rose 0.6% on Thursday.
Bumitama shares traded as high as $1.02, about 37% higher than its IPO price of $0.745, on volume of more than 195 million shares. It was the top traded stock by value and the second highest by volume in the market.
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