Midas (5EN.SG) +0.5% at $0.940 after announcing plan for new production plant in Henan with proposed 30,000 tons aluminium alloy extrusions per year capacity.

News also perhaps benefiting another China-based aluminium play -- new listing XinRen (MN5.SG), +2.5% at $0.405, top traded today on SGX, though still well below $0.55 IPO price -- as bolsters view that China’s hefty infrastructure investment, robust economic growth will underpin demand for metal.

After strong debut, XinRen fell around 40% to $0.365 low Tuesday; slight uptick since then suggests stock may have found its bottom.

DBS Vickers, with Buy rating on Midas, $1.20 target, says new plant positive as Midas share price performance has lagged market, “due to concerns over how the earnings dilution from the HK listing will be made up. This expansion plan clearly addresses the issue.” Adds, new plant should help Midas maintain leading market share in China train profile segment.