Singapore shares were higher, led by CapitaLand Ltd after the property developer said it will lead a joint venture to develop a S$3.2 billion project in Malaysia's Iskandar region.
The Straits Times Index was up 0.2 percent at 3,303.09 points, while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.8 percent.
CapitaLand added as much as 1.8 percent and was the second-highest traded stock by value in Singapore after the company said on Tuesday the project is its "first direct large scale township investment and development in Malaysia".
"This signals its confidence in Iskandar Malaysia as a compelling investment opportunity into a new upcoming development region, and would generate benefits in the medium term," DBS Vickers said, maintaining 'buy' with a S$4.09 target price.
1331 (0531 GMT)
