Shares of Amtek Engineering (AMEL.SI), which manufactures  precision engineering, plastic and rubber components, rose as much as 6.1% on Friday as investors were bullish that the firm would benefit from China's buoyant car market.

At 3:08 p.m., Amtek shares were up 3.8% at $1.37 on a volume of 9.1 million shares. The broader Straits Times Index <.FTSTI> was down 0.3%.

“The share price could have gone up because of the positive media coverage on the company,” said Liu Jinshu, an investment analyst at SIAS Research.

Amtek Chief Financial Officer Sheila Ng said the firm is  tapping into the growing trend among global car manufacturers  with operations in China to replace more expensive imported  parts with locally made components.