INSTANT noodle-maker Tingyi (Cayman Islands) Holding Corp made a strong debut on the stock exchange yesterday, closing at an 11.3 per cent premium to its $1.68 issue price. Shares in the Taiwanese-owned company gained as much as 16.1 per cent at one stage, to a high of $1.95, before sliding back to finish at $1.87. Volume was 235.03 million shares worth $445.4 million, making it the market's most traded stock. Ambrose Chang, a fund manager at Daiwa International Capital Management, described the performance as satisfactory. 'The insufficient number of shares allocated to the private placement turned institutional investors to the stock market, giving strong support to the share price,' an analyst said. Tingyi's issue of 811 million shares in Hong Kong and overseas was more than 15 times subscribed. In the grey market before its trading debut, the share was valued at $1.90-$2.00, an analyst said.