Singapore Hot Stock

SINGAPORE, Dec 28 (Reuters) - Shares of South Korean shipping firm soared 25.4 percent to a 5-week high of S$3.65 with 25 million traded after the firm said that recent ammendants to South Korean regulations would make possible the migration of shares of the company listed in Singapore and Seoul.

0851 GMT - Straits Times Index down 0.86 percent.

Resource shrs up on high palm oil prices

Shares of plantation plays Wilmar International and Golden Agri-Resources surged to fresh highs as global palm oil prices continued to rise, dealers said.

"Because of the record high palm oil prices. The market probably thinks there's more upside to these stocks," said a local dealer.

Wilmar, the world's largest-listed palm oil firm by market value, rose as much as 1.2 percent to a record high of S$5.26 with 1.6 million traded. Golden Agri-Resources rose as much as 1.4 percent to a six-week high of S$2.15 with 4.4 million traded.

Recently listed Indonesian palm oil producer First Resources rose to a 2-week high of S$1.22 and was the most actively traded counter on the Singapore bourse with 30 million traded.

0241 GMT - Straits Times Index down 0.69 percent.